Pressure from coal based capacities persists in China’s PP market
Sentiment is being damaged by weaker crude oil and naphtha prices while the start up of new coal based capacities is keeping supply levels sufficient. In production news, Ningxia Baofeng is planning to launch its new 300,000 tons/year coal based PP plant this month while another coal based producer, Pucheng Clean Energy Chemical, is expected to begin test runs at its 400,000 tons/year plant in mid-November.
Data from ChemOrbis Price Index shows that the gap between import and local homo-PP prices in China is down around $10/ton compared to last week, when the gap hit its lowest level since mid-May.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
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