- A Chinese trader informed SSESSMENTS.COM that at the moment, China’s local market is already on holiday mood. As such, sales volumes are very limited. The source opined that after the Labor Day holiday, the abundant inventory of the two leading Chinese polyolefins producers would drag down PP Homo Raffia prices. In the domestic market, the overall production rate for PP Homo Raffia is around 26-27%, which is only slightly lower by 3% from the normal production rate. Additionally, a lot of import cargoes, which are mostly PP Homo Raffia, will be arrived by then. As such, local PP Homo Raffia price in China is still under pressure.
- In the futures market, SSESSMENTS.COM noted that September 2020 PP futures on the Dalian Commodity Exchange increased CNY68/ton ($10/ton) day on day, settling at CNY6,938/ton ($980/ton) by Thursday settlement.
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