Polypropylene:Asia

摘要

Prices ticked up $5/mt in China from a week ago, with steeper gains of $10/mt and $15/mt seen in Southeast Asia and the Indian subcontinent. The increases were a reflection of high propylene prices rather than strong PP demand. PP consumers were retreating from the market in droves as crude oil tumbled below $79/barrel. China’s PP demand eroded as the mainland prepared to wind down manufacturing activity around February 14-20 for the one-week Lunar New Year public holiday. With the holiday less than a month away, Chinese traders and distributors were keen to liquidate long positions on PP taken in recent weeks.