Major producers’ polyolefin inventories in China continue to fall
Inventories have decreased nearly 11.5% from 570,000 tons on January 15 to stand at 505,000 tons as of January 22.
Buyers’ pre-Chinese New Year stock replenishment activity in the country’s local PP and PE markets is cited as the reason behind lower inventory levels.
Meanwhile, restocking and firm energy fundamentals aided to boost PP futures, which rallied on the Dalian Commodity Exchange. May PP futures registered a weekly gain of CNY166/ton ($26/ton) as of January 22.
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