A Chinese producer updated to SSESSMENTS.COM about recent activities in China market. Recently, the producer disclosed that the company is busy in selling PP Meltblown, and the inventory for PP Homo Raffia is now limited. PP futures prices are also in the upward trend, by May 19 morning, it has gone up by 2% from Monday, and the PP Homo Raffia offers from the producer are adjusted upward by CNY100/ton ($14/ton) from a day earlier.
Demand-wise, the operating rate for most manufacturers is between 60-70%, except mask manufacturers which are running at full production rate. This condition makes non-mask manufacturers are only eager in making hand-to-mouth purchases, and not interested to purchase in bulk, SSESSMENTS.COM noted. As the current PP prices are supported by the firmer crude oil and monomer prices, PP price drop chances in the near future are relatively small.
Click below to view related stories and content on the China PP market:
DailysSSESSMENTS: China PP Price 18th May 2020
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