- Following the downturn in futures market prices since Thursday, June 4, a Chinese trader eventually decided to make downward adjustments on their local PP offers as of Friday, June 5. As SSESSMENTS.COM noted, the current offers for local PP Homo Raffia from the trader’s end went down by CNY100/ton ($14/ton) compared to Thursday's level. Currently, the trader’s offers are available between CNY7,800-8,000/ton ($1,096-1,124/ton) on cash, EXW China basis and including 13% VAT.
- On supply front, the digestion rate of inventory of the two leading polyolefins producers in the country is quite healthy in the last few days. However, approaching today, SSESSMENTS.COM observed that inventory is not well-digested. On Friday, June 5, the inventory level of the two polyolefins producers recorded at 740,000 tons, which is increased by 10,000 tons from a day earlier. Throughout the week, the digestion rate of polyolefins inventory of the two leading producers is 85,000 tons.
