US PP falls further in China
However, buying interest for these cargoes remains limited, according to traders, despite the large decrease. This is because buyers are not willing to secure cargoes with long transit times given the uncertainty of the market trend.
“These cargoes will arrive in February and they can even be delayed to March. We do not know what the market will unveil by then,” said a Chinese distributor.
A trader also commented, “American producers are still suffering from high PP inventories ahead of the year end. In an attempt to deplete their stocks by late December, they are approaching their export destinations with attractive offers.”
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Turkey shattered as PP prices shoot up to surreal levels
- Polymer markets face one of most chaotic times
- Turnaround season set to get underway in Asia
- Crude oil heals COVID-inflicted wounds; now what lies ahead?
- Global shipping turmoil deepens, adding to the upheaval in plastic resins
- China’s post-holiday polymer outlook supported by supply limitations, crude oil
- US PE exports hit record high for 2020 despite production and logistics hurdles
- African PP, PE markets firmer on continued tightness in supplies
- Lack of sales pressure supports SEA PE markets
- Will soaring prices attract PP, PE imports to Europe?