Polypropylene Asia

摘要

The CFR Far East Asia polypropylene raffia marker sank $40/mt week on week to $1,230/mt Wednesday, amid weak Chinese demand and competitive offers from two major producers in Asia. Saudi Arabia’s Advanced Petrochemical Company and India’s Reliance Industries have been issuing competing offers with the lowest heard at $1,235/mt on Wednesday from both firms. There were no bids heard this week. China’s domestic price for PP raffia remained unchanged week on week at Yuan 8,700/ mt Wednesday, about $1,141/mt on an import parity basis, and $89/mt below the assessed CFR Far East Asia price. The gap between the CFR Far East Asia and China domestic price continued to discourage China-based buyers from importing PP cargoes, said sources.