Polypropylene:Asia

摘要

house Zhejiang Grand was offering Asian-origin cargoes at a competitive $1,230/mt CFR China. While Zhejiang Grand did not close deals by market close, the price was assessed down 1.48%, or $18.50/mt, at $1,229/mt. Elsewhere in Southeast Asia, offers were heard at $1,300/mt although spot demand was reported as lackluster, mainly because buyers covered by contract supplies were not in the market. In plant news, Thailand’s PTT Chemical cut run rates at its 90,000 mt/year polystyrene plant at Map Ta Phut by 10-20% to 50-60% of capacity, due to a reduction of SM feedstock from affiliated IRPC. PTT, however, was maintaining offers for spot cargoes at $1,300/mt, and factoring in a possible impact on supply, Southeast Asian GPPS prices were assessed at $1,335/mt. Feedstock-wise, SM spiked by $18.50 /mt on the week to $1,145/mt CFR China on September 8, compared with the same day last week.