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China Polymer Prices Sharply Down
8:47 AM MDT | June 1, 2010 | Lindsey Bewley
PP prices witnessed a steep slide in Asia. Subdued regional buying interest, a sharp drop in prices of naphtha, a drop in propylene values and rising concerns about Europe’s financial health, together pulled PP rates down over USD 50/mt on the week. Traders sitting on unsold inventories of PP panicked this week and rushed to unwind their positions. These aggressive selling efforts exacerbated an already weak PP, dragging prices down further lower. Injection and raffia grade PP prices were assessed down at the USD 1250/mt CFR South East Asia levels. PP...
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