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Several Chinese PP plants to shut ahead of G20 meeting

by ChemOrbis Editorial Team -
  • 07/06/2016 (18:02)
Market sources report that several PP plants in Shanghai and Ningbo have been asked to curb production in August-September period in accordance with the upcoming G20 Summit, which will be held in September in Hangzhou, Zhejiang.

A trader based in China expects that PP prices will firm up as oil prices are likely to remain strong during June and July due to retreating crude inventories. He believes that prices will change direction at the beginning of July.

Another trader commented, “The upcoming G20 Summit will mostly affect PP producers and prices will be pushed up by better demand as preparations for the agricultural season will start at the end of July.”

In China, homo-PP injection and raffia prices currently stand at $860-930/ton CFR China, cash equivalent basis.
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