- A producer based in Ningbo informed SSESSMENTS.COM that currently, the company is focused on selling PP melt-blown materials; hence, the availability of PP Homo Raffia from the producer’s end is limited. The producer’s offers for local PP Homo Raffia cargoes increased by CNY100/ton ($14/ton) as compared to a day earlier. Not only triggered by the tight supply but also the firmer PP futures and crude oil prices. In terms of demand, the producer stated that converters are mostly still making procurement on an as-needed basis. Currently, most converters are running production at around 60-70%, except for converters who produce masks; they are running at full capacity. Looking ahead, the producer opined that the room for PP prices to drop in the days to come is rather small.
- Meanwhile, a distributor of Malaysia polyolefins producer hinted to SSESSMENTS.COM that the producer’s offers for June shipment might come out by next week. This week, market talks have it that July shipment offers for PP Homo Raffia from the leading Indian petrochemical producer are available in the China market at $800/ton on LC at sight, CIF China Main Port basis. So far, the distributor has yet to hear any deals concluded for the cargoes.
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