- As SSESSMENTS.COM noted, the Chinese General Administration of Customs has announced a list of unqualified batches of quality and safety of export anti-epidemic materials on May 9. The list includes a total of more than 1.86 million unqualified protective masks. In the following day, Commerce Bureau of Yiwu, Zhejiang reported that export activities for coronavirus testing reagents, medical masks, medical protective clothing, respirators, infrared thermometers, other medical materials and non-medical masks will be suspended with effect from May 10 until further notice. In response, authorities in China are further strengthening the quality control assurance of export medical products. These stringent measures will ensure the quality of medical supply exports but sending a bearish signal to China’s PP market. Following the downtrend in the futures market, one of the local traders adjusted down the PP offers by CNY200/ton ($28/ton) from last week. The latest offers for PP Homo Raffia from the trader ranging between CNY7,600-7,700/ton ($1,074-1,088/ton) on cash, EXW China basis and including 13% VAT.
- Another local trader in China informed SSESSMENTS.COM regarding the company’s price list for this week. As compared to last Friday’s level, the trader initiated a price reduction of CNY200/ton ($28/ton) for PP Homo Raffia in response to the softer futures market by Monday. As observed at 2.35 PM (GMT +8), September 2020 PP prices in the Dalian Commodity Exchange decreased by CNY247/ton ($35/ton), open at CNY7,027/ton ($993/ton) by morning trading session.
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