Polymerupdate News - Polypropylene (PP) prices plunge in Asia
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Polypropylene (PP) prices plunge in Asia

Petrochemical industry | 06 Dec 2018 10:00 IST | Polymerupdate.com

Polypropylene prices nosedived in Asia, this week. The steep price drop was mainly on account of persistent weak buying sentiments coupled with reports of several deals concluded at lower price levels in the region.

CFR Far East Asia, PP raffia and PP injection prices were assessed at the USD 1010/mt levels, both tumble USD 80/mt from the previous week. PP film prices were at the USD 1035/mt levels, a week on week plunge of USD 85/mt. PP block copolymer prices were assessed at the USD 1050/mt levels, a whopping drop of USD 130/mt on the week. BOPP prices were at the USD 1030/mt levels, a steep tumble of USD 90/mt from the previous week.

A trader based in China while in conversation with a polymerupdate team member informed that although import prices continue to quote lower, the buying mood in PP in the domestic markets of China has shown some sign of improvement on the back of rising PP futures on the Dalian Commodity Exchange.

In South East Asia (SEA), PP raffia and PP injection grade prices were assessed at the USD 1060/mt levels, both week on week tumble of USD 70/mt. BOPP prices were at the USD 1080/mt levels, a plunge of USD 65/mt on the week. PP film prices were also assessed at the USD 1080/mt levels, a week on week slide of USD 70/mt. PP block copolymer prices were assessed lower at the USD 1090/mt CFR levels, a steep drop of USD 90/mt on the week.

In India, PP raffia and PP injection prices were at the USD 1060/mt, both down USD 70/mt from the previous week. PP film prices were at the USD 1090/mt, a week on week plunge of USD 70/mt. BOPP prices were assessed lower at the USD 1090/mt CFR levels, a week on week tumble USD 80/mt. PP block copolymer prices were assessed down at the USD 1100/mt CFR levels, a slide of USD 80/mt on the week.

In India, a Middle Eastern producer has offered its PP raffia and PP injection grades at the USD 1060-1070/mt levels, for December 2018 shipment.
In Pakistan, PP raffia and PP injection prices were assessed lower at the USD 1130/mt CFR levels, both week on week down USD 40/mt . PP block copolymer prices were assessed lower at the USD 1180/mt CFR levels, a sharp decline of USD 35/mt on the week. PP film prices were at the USD 1150/mt CFR levels, while BOPP prices were also at the USD 1150/mt CFR levels, both down USD 40/mt from the previous week.

In Sri Lanka, PP raffia and PP injection prices were at the USD 1140/mt CFR levels, both down USD 30/mt from the previous week. PP block copolymer prices were assessed lower at the USD 1190/mt CFR levels, a week on week fall of USD 10/mt. PP film prices were assessed at the USD 1160/mt CFR levels while BOPP prices were also at the USD 1160/mt CFR levels, both tumble of USD 35/mt from the previous week.

In Bangladesh, PP raffia and PP injection prices were assessed lower at the USD 1090/mt CFR levels, a steep week on week drop of USD 50/mt. PP film prices were at the USD 1110/mt CFR levels, a plunge USD 60/mt on the week. BOPP prices were at the USD 1110/mt CFR levels, while in PP block copolymer prices were at the USD 1140/mt CFR levels, both tumble USD 60/mt from the previous week.

Feedstock propylene prices on Tuesday were assessed at the USD 855/mt FOB Korea levels, a gain of USD 25/mt from the previous week. CFR China prices of propylene were at the USD 900/mt levels, a week on week increase of USD 30/mt.
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