Chinese Polymer Prices Slip

PP prices slipped across some parts of Asia this week, down on the back of soft regional demand and a drop recorded in upstream crude and propylene feedstock rates. In China, domestic PP injection prices were at the Yuan 10350/mt ex works mark with buying described by sellers as dull. The start up of the new 300,000 mt/annum PP plant of Sinopec Zhenhai weakened fundamentals as buyers who were already withdrawn from the markets in anticipation of softer prices, were convinced that the flood of additional availability would further weaken prices.   A local...

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