Polymer Prices Generally Lower in China

Polypropylene (PP) prices were assessed lower. Even though producers continued to defend their offer prices firm, citing high upstream energy, naphtha and propylene costs, traders intending to liquidate their PP stocks came forward with lower rates this week. In China, the markets were shut on Monday and Tuesday for a public holiday. When the markets re-opened on Wednesday, the buying mood was subdued. Moreover, the Central Bank in China hiked interest rates in an effort to curb lending which further prompted buyer interest to dull. In response, sellers seeking...

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