Surging propylene pulls PP prices higher in China, SEA
This fact, along with supply concerns recently exacerbated by lower run rates, shutdowns at PP plants as well as the transportation ban ahead of the G20 Summit, has pulled the import PP market level up slightly in China. The overall homo-PP price range was reported at $965-1050/ton CIF China, cash, making a weekly increase of $15-30/ton. However, players generally concur that this firming is mostly driven by costs and supply, rather than a real improvement in fundamental demand.
Similarly, the Southeast Asian PP market was reported $10-25/ton higher this week at $1000-1140/ton CIF, cash. No offer was left below the $1000/ton threshold, although players remain quite cautious and acknowledge that this firming lacks support from demand. Several traders said that they still received bids at $980-990/ton due to thin buying interest, but they could not accept them given the surging propylene costs.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Asian ethylene-naphtha spread at almost 7-year low
- European PVC defies global uptrend
- Turkey’s PP, PE markets at a standstill amid lingering downturn
- PVC downturn persists in China’s local market despite bullish imports
- China's PP market at almost 2-year low; H2 outlook bearish
- Asian spot ethylene market plunges to decade low
- Early July expectations emerge softer in Europe’s PP market
- Import PE prices fall to lowest in more than a decade across Asia
- Tightness pushes Asian PVC markets to 3-month high
- China’s PE market continues bearish run on sluggish demand