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Local PP, PE prices soften in China

by ChemOrbis Editorial Team -
  • 19/07/2016 (17:29)
Local PP and PE prices have softened over the past two weeks in China, players reported. According to ChemOrbis Price Index, both products showed slight decreases on average.

The recent drop in future prices and weak demand were blamed for these decreases. Homo PP prices retreated by CNY130-200/ton ($20-30/ton) when compared to two weeks ago to CNY7900-8450/ton ($1180-1262/ton) ex-warehouse, cash inc VAT.

Local PE prices also followed suit. According to ChemOrbis Price Index, LDPE prices fell by CNY133/ton ($20/ton) when compared to two weeks ago to CNY9200-10300/ton ($1374-1538/ton). This indicates the largest drop with respect to other products while LLDPE and HDPE film prices recorded smaller drops of CNY73/ton ($11/ton) on average respectively to CNY9050-9800/ton ($1351-1463/ton) and CNY9300-10000/ton ($1389-1493/ton), all ex-warehouse, cash inc VAT.

A trader in China attributed these drops to the lower future prices and weaker demand. “CNPC and Sinopec reduced their prices as a result of these factors. Due to the low season for manufacturing activities, there are not many done deals. We plan to do back to back business” said the trader.

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