Polymer Prices in China Move Upward

In China, domestic ex works prices of PP injection and PP raffia were at the Yuan 12550/mt levels. A PP trader from Hong Kong said he markets are confused. On the one hand you have energy prices surging and propylene firm at USD 1550/mt FOB Korea levels. This is prompting PP producers to keep their target rates firm. However, they are confronted with competition from traders seeking to unwind their positions. These traders are offering competitive prices for PP from bonded warehouses. The concern is that with credit curbed in China, liquidity has dried up...

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