Local PP, PE prices continue to soften in China
According to ChemOrbis Price Index, average local LDPE, HDPE and LLDPE prices posted similar decreases of CNY170/ton ($30/ton) in the past one month. They are currently reported at CNY9030-10300/ton ex-warehouse, cash, inc VAT ($1156-1318/ton exc VAT) for LDPE, CNY9300-10200/ton ($1190-1306/ton exc VAT) for HDPE film and CNY8780-9800/ton ($1124-1254/ton exc VAT) for LLDPE film.
As for PP, local raffia and injection prices were reported at CNY7750-8350/ton ex-warehouse, cash inc VAT ($992-1069/ton exc VAT) so far this week. When compared to a month ago, they present a cumulative decrease of CNY200/ton ($25/ton) on average based on ChemOrbis Price Index.
Chinese converters continue to complain about their poor export orders. Supplies for both PP and PE are reportedly not comfortable in China. LDPE and LLDPE is considered limited in the local market ahead of the expected start of the high season for agricultural film. Yangzi is also reported to have a maintenance shutdown in late July at its LLDPE and HDPE units. However, this factor has not been helping to put a stop to further price losses so far.
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