Major Chinese producers’ polyolefin inventories rise w-on-w

According to market sources, the two major Chinese polyolefin producers have experienced an increase in their PE and PP inventories over the past week.

The total polyolefin inventories posted a weekly rise of 30,000 tons, currently standing at 520,000 tons. This indicated an increase of around 6% from January 26 to February 2.

A market player pointed to the approaching holidays and said, “Pre-holiday stocking activities are being finalized in the downstream sectors. Downstream operations will be paused as of next week. Thus, polyolefin inventories will soar during the Chinese New Year holidays.”