Polymer Prices Drop in China

Prices of polypropylene (PP) declined this week. Subdued buying trends were seen responsible for the price fall with a late week drop in propylene feedstock values adding to the bearish pricing undertone. In China, where buying had slowed to a trickle, prices of PP injection and PP raffia were at the Yuan 12550/mt ex works. PP producers are pointing toward good demand trends from some parts of Asia which in turn is prompting them to defend their offers for PP stable. The time is ripe for a steep downward correction in PP with strong bearish punches from China and...

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