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Live News | Time:Mar 13 2018 11:18AM
PP spot trend plain, low end attracts buy interest
 
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Sinopec & PetroChina’s EXW offers
Sinopec East cuts offers for homo PP (except for pipe-grade) down by 150-200yuan/mt, by cash, ex-works.
PetroChina East cuts offers for part of homo PP down by 200, by cash, ex-works.

PP granule spot
PP granule market trend is plain, as futures contract opens lower but stabilizes in a platform. Downstream comes in to restock at market low end, and procurement is relatively healthy, since PP prices have been dropping continuously for weeks.

In East China, mainstream traders offer for homo PP raffia and injection at 8,800-8,900yuan/mt and 8,850-8,900yuan/mt, and offers for coal-based low-MFR co PP at 9,000-9,100yuan/mt.
In North China, offers for homo PP raffia grade are mainly at 8,600-8,750yuan/mt, and offers for low-MFR co PP are at 9,000-9,250yuan/mt.

PP powder
PP powder market is in weak operation. Most powder plants adjust down offers lower with futures contract, and market low rates attract some buy interest. Offers are at 8,450-8,550yuan/mt in Shandong province, and 8,580-8,800yuan/mt in East China, by cash, ex-works.

$1=CNY 6.34
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