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Local homo-PP moves below imports again in China

by ChemOrbis Editorial Team -
  • 18/08/2017 (17:14)
In China, local homo-PP prices in China have moved below imports again recently after they traded above imports for more than a month. The steady gains of import homo-PP prices in the past one month caused local offers to lose their premium over imports while local prices have been volatile for the last three weeks in line with the futures market.

As can be seen in the below graph created by the ChemOrbis Price Wizard, weekly average homo-PP prices have been trading below imports for the past two weeks after mostly standing above them since the first half of July. This pushed buyers to the local market in order to secure their needs at more competitive levels.

A trader commented, “Traders are offering at high levels given fewer import offers in the market. However, converters are not willing to accept these levels as local prices are standing at more competitive levels. We think PP prices will remain firm but demand will not improve.”
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