As reported on www.ChemOrbis.com, in Southeast Asian PP markets, players reported that local PP prices have risen during this past week despite the retreating spot propylene costs. The increases were attributed to the depreciating local currencies against the US dollar in some of the Southeast Asian markets as well as claims of limited supply. However,
In China, local and import PP prices have been trading almost on par since late March. According to ChemOrbis Price Wizard, this situation has started to change over the past two to three weeks and the locally held prices regained their premium over imports. Import homo-PP prices have been under downward pressure coming from the
Accordin to ChemOrbis, players in Italy started to express their expectations for September after they returned back to their desks following their summer holidays. These expectations called for the continuation of the current downward trend for another month given weak demand and lower upstream costs stemming from weakening crude oil prices. At the beginning of
Import PP prices have been on a steady downturn in China and Southeast Asia since mid-April, according to ChemOrbis Price Index, with rising supplies and retreating costs acting as the major drivers of these ongoing decreases. The emergence of additional availability from new coal-based plants as well as the recent depreciation of the yuan in
The PP market has been on a bearish trend since the middle of May in China, according to ChemOrbis. Players in the country voice their expectations for a new round of price cuts for August due to a number of reasons including ample supplies, lower spot propylene costs in Asia during July and moderate demand.
According to ChemOrbis Import Statistics, Turkey’s overall polymer imports hit an all time high on a monthly basis in April. Homo PP and HDPE paved the way for the record imports on a product basis while other products’ contribution to the record was relatively smaller. More than 450,000 tons of polymers were imported in April,
In Europe, PP prices are currently indicating €40-60/ton hikes from May levels supported by persistent supply tightness and firm upstream chain, according to ChemOrbis. Initial June offers had emerged with increases of €50-70/ton, but buyers’ resistance to higher levels forced distributors to make corrections on their prices on the upper ends of the overall ranges.
Players in China report that domestic PP prices continued to soften this week, causing domestic PP to trade at a discount to import cargoes, according to data from ChemOrbis Price Index. Attractively-priced local PP is said to be exerting downward pressure on import prices as sellers offering overseas cargoes are facing pressure to give ground