Weak demand outweighs refined COVID-19 policy, capping China PP price rise

摘要

SINGAPORE (ICIS)--China's polypropylene (PP) futures surged following the release of the refined COVID-19 policy on 11 November, but the market may still face pressure toward the year-end amid tepid demand recovery, intensive arrivals of competitively-priced imports and expected new plant start-ups. PP futures soar as COVID-19 policy modifications bolster market sentiment Downstream demand may take time to recover Supply of domestic and imported cargoes may both increase