Positive sentiment drives changes in PE and PP prices in the China market. A China-based polyolefins producer revealed to SSESSMENTS.COM that the company have increased local PE and PP offers following the strong futures and spot market prices last week. Speaking about PE cargoes, offers for LLDPE Film C4 are available at CNY7,625-7,700/ton ($1,088-1,099/ton), up between CNY300-400/ton ($42-57/ton) compared to last week. According to the producer, PE price gains were triggered by the tight supply, better demand and the delayed arrivals of Iranian cargoes to China.
For PP cargoes, PP Homo Raffia offers from the producer were adjusted up between CNY50-150/ton ($7-21/ton) as compared to last week’s offers, currently stand at CNY8,125-8,225/ton ($1,160-1,174/ton). All local offers on cash, EXW basis and including 13% VAT. The producer pointed out to SSESSMENTS.COM that PP price increase was driven by overall better sentiment in the polymers market.
