- A Ningbo-based trader informed SSESSMENTS.COM that today’s prices for PP Homo Raffia from the trader’s side remain stable from a day earlier. Currently, demand in the domestic market reported almost back to normal, yet, sales for converters’ end-products from the export market are slowing down due to the spreads of the novel of Coronavirus. Last week, local prices reached a new low record since 2005. This week, most players have already accepted the fact regarding the prices and prefer to focus on moving out their inventory as soon and as much as possible. However, the trader lamented that to conclude deals this week are still rather difficult since buying sentiment is not too encouraging.
- Meanwhile, a Chinese producer reported to SSESSMENTS.COM that the latest offers for PP Homo Raffia from their side dropped between CNY200-300/ton ($28-42/ton) compared to last week. In terms of demand, the overall buying sentiment remains sluggish so far. Even though the Coronavirus outbreak in China has been controlled, the outbreak in other countries is getting worse. As such, the near-term outlook for China PP market is not positive.
