Domestic PP prices in China declined amid weak buying activity – Domestic PP prices China

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Domestic PP prices in China declined amid weak buying activity

Domestic PP prices China MOSCOW  – Domestic prices of polypropylene (PP) in East China fell last week amid low buying activity in the spot market, ICIS sources told the market.

So, on September 4-5, spot prices for Chinese fiber PP brands in eastern China reached a new maximum in 2017 – 9,375 yuan (CNY) or USD1,451 per ton. But on September 6, prices fell to CNY9,325 or USD1,444 per ton, and on September 7 quotations continued to fall and reached CNY9,250 or USD1,432 per tonne, which is CNY125 or USD19 per tonne lower compared to peak prices, according to ICIS. However, the consumer interest was still low.

One of the traders said that most sellers are reluctant to reduce prices and that end users are slow to buy quantities of material. However, many participants believe that this decline is only a temporary pullback of prices and that the upward trend will continue later. Thus, most players will track market quotes this week.

Propylene is the raw material for the production of polypropylene (PP).

According to the ICIS-MRC Price Review , there was chaos in the Russian PP market last week. Many sellers have temporarily suspended their sales because of planned and unplanned stops of individual industries. Against the background of plant stops, polypropylene went up very seriously. At the same time, the number of transactions this week was small, many sellers are not rushing to sell their stocks, as there is no understanding of what will happen with the price and how long the key producer – SIBUR Tobolsk – will remain.

mrcplast.ru

Domestic PP prices China Domestic PP prices China