News Code : 42599

Suppliers project an uptrend for April PP in Italy, buyers are skeptical

Suppliers project an uptrend for April PP in Italy, buyers are skeptical

Petrotahlil:

Suppliers project an uptrend for April PP in Italy, buyers are skeptical

• PP players sidelined ahead of April C3 

• April C3 expectations slightly firmer on rising costs 

• Sellers expect small hikes in April PP prices 

• Players at odds about workability of possible hikes 

• Demand is rather weak amid comfortable supply

• Local spot (€/ton): Homo-PP 1160-1260 | PPBC 1210-1310 FD

SEA’s import PP market remains firm as Q1 ends

• Import PP stable to $20 higher on week 

• Firming mainly attributed to low supplies 

• Strong energy costs also supportive 

• Chinese PP offers competitive edge in Vietnam 

• Malaysian producer lifts local homo-PP for Apr

• Import homo-PP raffia, inj. ($/ton): 1120-1200 CIF

PP mostly steady in China prior to VAT cut

• Local polyolefin supplies still ample 

• Buyers sidelined ahead of VAT cut on Apr 1 

• PP futures down CNY22 on week 

• Import supplies tight amid turnarounds 

• Oil, naphtha hover around nearly 5 month-high

• Import homo-PP raffia ($/ton): 1060-1130 CIF

Turkish PP players rule out sizeable hikes for April

• Players sidelined ahead of elections 

• Volatile parity weighs on demand 

• Economic concerns might keep further PP hikes in check 

• Short-term expectations are firm on tightness

• Local ($/ton): Raffia 1550-1615 ex-warehouse 

• Import Saudi ($/ton): Raffia 1170-1180 | Fibre 1270-1290 CIF

PP players widely foresee a firmer outcome for April C3 in Europe

• April C3 still pending 

• Buyers predict rollovers to small increases for PP 

• Firmer energy market might support higher C3 

• Weak demand, comfortable supply may hinder hike requests 

• Demand-supply dynamics to play a key role in April

• Local spot (€/ton): Homo-PP 1200-1300 | PPBC 1250-1350 FD

Egypt’s PP markets witness slow activities

• Local homo PP raffia down by EGP100-500 

• Tight liquidity hinders activities 

• Ample supply, slow demand keep expectations soft 

• Import market grapples with competing drivers

• Import PP ($/ton): Raffia 1170-1190 | Film 1190-1220 CIF

Will bullish PP sentiment extend into April in Mid-East?

• March deals concluded with rollovers to increases from Feb 

• April expectations are stable to firmer 

• Trading activity remains limited 

• Sentiment yet to improve before Ramadan

• Local PP in S.Arabia ($/ton): Raffia and inj. 1130-1140 FD 

• Import PP in UAE ($/ton): Raffia and inj. 1180-1200 CIF

Africa’s PP markets stand still amidst poor activities

• March PP deals concluded flat from initial levels 

• Poor market activities weigh on April expectations 

• Supplies ample amid thin demand

• Import PP in Nigeria ($/ton): Homo PP 1190 CFR 

• Import PP in Kenya ($/ton): Homo PP 1170-1200 CIF

 

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