Polypropylene:Asia

摘要

Asian prices rebounded on support from last-minute restocking ahead of the Mid-Autumn Festival (September 22- 24) and China National Day holidays(October 1-7). Early this week, Kumho reported selling H1 October delivery 190 mt and 380 mt lot-size cargoes at $1,950/mt CFR China. Platts did not fully factor this into the assessment, as the buyers were unnamed. On the supply/demand side, statistics from Chinese Customs released on August 25 indicated that China imported 183,615 mt of ABS in July, compared with 176,473 mt in June. The surge was attributed to an uptick in demand from China’s electrical/electronic appliances and the automobile sector. While Christmas-related production is expected to be completed, China’s household electric appliance old-for-new trade-in subsidy program, which started in 2009, is expected to provide further momentum over the rest of the fourth quarter. ABS is widely used in the production of appliances such as washing machines, color televisions and air conditioners.