Local PP offers on cash, EXW China basis (including 13% VAT in CNY term, excluding VAT in USD terms)
A Chinese polypropylene producer informed SSESSMENTS.COM regarding their steps to anticipate changes in market conditions. For this week, the producer is offering PP Random Copolymer Blow at CNY9,100/ton ($1,281/ton) on cash, EXW China basis, including 13% VAT. According to the producer, the offer is maintained stable from last week’s level. The producer also mentioned that the inventory conditions, although not much, are sufficient to meet demand. The two production lines run by the producer currently focus on producing PP Random Copolymer Blow (capacity 170,000 tons/year) and PP Block Copolymer (capacity 320,000 tons/year).
The producer then informed that 500,000-600,000 tons of imported PP cargoes would arrive at China main port before the end of May. “So far it has no impact on our sales and prices, but when all the cargoes arrive in China market, it will drag the market down sharply. Converters have not yet recovered their consumption due to orders for the export market of finished goods being affected by the COVID-19 pandemic,” the producer told SSESSMENTS.COM. For the outlook, PP prices could still go down in the second half of May or when imported cargoes enter China.
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Tags: Asia Pacific,China,English,NEA,News,PP
Published on May 18, 2020 5:51 PM (GMT+8)Last Updated on May 18, 2020 6:07 PM (GMT+8)
