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...
- European PE markets set for 2nd bullish month on rising costs
- Turkey’s PP and PE markets propelled to a firm start to H2 despite vulnerable conditions
- Asian PVC sees V-shaped recovery in Q2, what will Q3 bring?
- Will capacity additions cast cloud on ethylene upsurge in Asia?
- US PVC offers in Egypt rise steadily but resistance grows in tandem
- PE buyers’ resistance grows in SEA; duty-free origins more competitive than Mid-East
- Polymer demand cools in Turkey: Is price correction ahead for PP, PE and PVC?
- China’s rising PET trend takes a pause, but longer-term outlook remains firm
- Uptrend in China’s import PP market continues but cautious mood returns
- Hikes in Asia July PVC offers baffle some buyers, further rally under discussion