News Code : 42628

Petrotahlil:

PP sellers adopt a firm stance in China

• Local raffia up despite high stocks 

• PP futures jump CNY241 on week 

• Demand cautiously improves after VAT cut 

• Import raffia supported by tight overseas supply 

• Saudi major lifts April offers by $30 

• Strong crude also gives an upper hand to sellers

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

 

Will PP sellers achieve hikes larger than April C3 in Italy?

• Suppliers reveal initial April offers €20-40 higher 

• C3 settled €20 up late last week 

• Buyers expect increases in line with C3 to pass on deals 

• Borealis faces production issues at its PPBC plants in Austria, Belgium 

• Weak demand, comfortable supply put pressure on larger hike attempts

• Local spot (€/ton): Homo-PP 1180-1285 | PPBC 1230-1340 FD

 

SEA’s import PP market extends gains into April

• Import offers up further by $15 on week 

• Limited import availability pushes prices higher 

• China’s PP market firm, oil holds strong 

• Local prices move higher in Philippines 

• Indonesian producer cuts local offers after 2 months

• Import homo-PP raffia, inj. ($/ton): 1135-1180 CIF

 

Buying interest for PP cools off after elections in Turkey

• April propylene settles up €20 in Europe 

• Feb homo PP imports down both on month, year 

• Cautiousness persists on economic uncertainties 

• Supply limitations still in place amid waning demand

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

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

 

European PP buyers show resistance to initial hike requests

• PP suppliers seek increases of €20-40 in their initial offers 

• Sellers’ initial hike attempts supported by €20 higher C3 

• Buyers are skeptical about increases beyond C3 

• €20 hikes are expected to pass on April PP deals 

• Easter holiday might prevent demand from improving in April

• Local spot (€/ton): Homo-PP 1220-1340 | PPBC 1270-1390 FD

 

Initial April PP offers revealed stable to firm in Egypt

• Saudi major announces rollovers to increases of $10-20 

• Local raffia down by EGP300; film and inj. stable 

• Buyers in import market waiting for more offers before purchasing 

• EPPC’s and OPC’s new offers awaited

• Import PP ($/ton): Raffia 1180-1200| Film 1210-1230 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

 

African PP players receive stable to firm offers for April

• ELEME’s new April offers up by NGN10,000 

• April offers in Kenya steady to $20/ton firmer 

• Overall demand improves amid high season 

• Algerian and Tunisian players expect rollovers to increases

• Imports in Morocco (€/ton): Homo PP 1060-1070 CIF 

• Imports in Kenya ($/ton): Homo PP 1200-1220 CFR

 

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