Major Chinese producers’ polyolefin inventories down below 600,000 tons

According to market resources, the combined PP and PE inventories of China’s two major polyolefin producers continued to decline over the week, breaking below the 600,000-ton threshold.

Total polyolefin inventories were down by 25,000 tons to be reported at 580,000 tons, indicating a 4% decrease from November 22 to November 29.

“The market expectations for changes in PE futures are stabilizing, with near-term outlooks remaining weak while players express greater optimism for the longer term. However, the PP market lacks clear direction in the short term. Buyers and sellers are in a deadlock, leading to a lack of movement or clear trend,” commented a market player.