Local PP, PE prices open the week on a firm note in China
A trader based in Xiamen commented, “Limited local supplies have pushed PE and PP prices higher even though demand is not that strong. We are expecting prices to follow a firm path during April. However, for May, we are feeling uncertain about the outlook as the turnaround season will finish in May.”
A second trader based in Shanghai also stated that prices firmed up due to sellers’ lack of sales pressure. “Due to several ethylene and propylene shutdowns, supplies are limited and this is supporting higher levels. We think that this trend will last until May,” he added.
In China, local PP prices posted increases of between CNY150-400/ton ($24-65/ton) when compared to last week while PE prices were also up by around CNY50-600/ton ($8-97/ton), with prices currently being reported at CNY10300-10500/ton ($1443-1471/ton without VAT) for PP block copolymer, at CNY8950-9200/ton ($1254-1289/ton without VAT) for homo-PP raffia, at CNY9100-9300/ton ($1275-1303/ton without VAT) for homo-PP injection, at CNY11400-11500/ton ($1597-1611/ton without VAT) for LDPE film, at CNY10100-10400/ton ($1415-1457/ton without VAT) for LLDPE film and at CNY10300-10450/ton ($1443-1464/ton without VAT) for HDPE film, all on an ex-warehouse China, cash including VAT basis.
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