Polypropylene: Asia

摘要

Asian polypropylene prices continued to trend downwards for the third consecutive week this week amid no signs of recovery in China. The PP raffia and injection markers were both assessed at $1,405/mt CFR Far East Asia Wednesday, down $50/mt week on week. In Southeast Asia and South Asia, the PP raffia/injection markers shed $55/mt over the same period to $1,485/mt CFR SEA and fell $20/mt to $1,530/mt CFR South Asia. Sources said China’s major domestic producers, PetroChina and Sinopec, had high inventory levels and were continuing to lower domestic offers to clear cargoes. Sinopec this week lowered its ex-works price for PP in East China by Yuan 200/mt to Yuan 10,500/mt or $1,342/mt on an import parity basis.