- A Chinese trader contacted by SSESSMENTS.COM informed that most downstream factories in China are still struggling to keep operating rates at a normal level amid falling export orders and sluggish demand. The trader foresees that the China PP prices will face mounting pressure from sluggish downstream demand. On a week-on-week comparison, the trader has initiated a price reduction of between CNY100-200/ton ($14-28/ton) for local PP Homo Raffia offers. The latest offers from the trader are available between CNY7,300-7,400/ton ($1,026-1,056/ton) on cash, EXW China basis and including 13% VAT.
- Similarly, another local trader in China informed SSESSMENTS.COM on revising down its local offers further. As compared to Thursday’s level, the trader has announced a fresh price list with a reduction of CNY100/ton ($14/ton) for local PP Homo Raffia. Current PP Homo Raffia offers from the trader are available between CNY7,300-7,500/ton ($1,026-1,056/ton) on cash, EXW China basis and including 13% VAT.
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