- A global trading house contacted by SSESSMENTS.COM’s team on May 14 informed that import PP Homo Raffia offers of Saudi origin surfaced with a slight decrease of $5/ton as compared to last week’s level. At the moment, Saudi PP Homo Raffia cargoes are available at $860/ton on LC at sight, CIF China main port basis. The trader further added that some Middle Eastern producers announced June shipment offers earlier than usual as Eid Al-Fitr holiday is around the corner. Besides, as China’s PP market is better than last month, it seems like producers are aiming to hit the sales target before the holiday.
- Whereas in the domestic market, a local trader informed SSESSMENTS.COM that the average operating rate of the downstream factories is between 40-50%. Demand from the export market is mostly supported by medical-related products. While in the local market, demand remains soft. For the near-term outlook, the trader predicts that manufacturers will only procure on a hand-to-mouth basis.
Click below to view related stories and content on China PP:
DailySSESSMENTS: SEA PP Price 13th May 2020
DailySSESSMENTS: China PP Price 13th May 2020
DailySSESSMENTS: SEA PP Price 14th May 2020
