- A Chinese trader informed SSESSMENTS.COM on the latest PP Homo Raffia offers in the domestic market. On July 8, local PP Homo Raffia offers from the trader’s end increased by CNY50-200/ton ($7-28/ton) compared to price list announced on Tuesday, July 7. Current offers are available between CNY7,900-8,250 ($1,125-1,175/ton) on cash, EXW China basis and including 13% VAT.
- Similarly, a Xiamen-based trader revealed to SSESSMENTS.COM that local PP Homo Raffia offers increased by CNY100-200/ton ($14-28/ton) on the daily comparison. According to the trader, despite the slow demand, local producers are unwilling to lower PP prices due to the uptrend in the futures market coupled with the low inventory at the two leading Chinese polyolefins producers. Taking this into account, the trader opined that local PP prices would remain firm in July. However, entering August, the outlook is cloudy due to many uncertainties in the market.
