News Code : 42678

• Local raffia up further by CNY200 on week • Q2 turnarounds likely to ease local oversupply • Firm futures, strong crude add to firming • VAT reduction boosts buying sentiment • Import raffia firmer on low overseas supply • Import homo-PP raffia ($/ton): 1070-1150 CIF

Petrotahlil:

Import PP stays on uptrend in SEA amid ongoing availability issues

• Import homo-PP rises further by $5-15 on week 

• Import supplies remain limited amid turnarounds 

• Firmer China PP market supports the sentiment 

• Crude hovers around five-month high 

• Indonesian producer keeps local PP offers stable 

• Thailand to celebrate Songkran Festival on Apr 12-16

• Import homo-PP raffia, inj. ($/ton): 1150-1185 CIF

 

Increases matching April C3 hike pass on PP deals in Europe

• Initial April deals closed with €20 hikes 

• Hikes larger than April C3 failed to pass on deals so far 

• Flimsy demand does not lend support to sellers 

• Overall supply remains comfortable despite some PP disruptions 

• €20 increases to be reflected on more deals in H2 April

• Local spot (€/ton): Homo-PP 1220-1320 | PPBC 1270-1370 FD

 

PP sellers fail to achieve initial hike targets in Italy on buyers’ resistance

• Sellers’ hike requests of €40 proved to be unworkable 

• €20 pass on April PP deals 

• Borealis declared FM on PPBC from its plant in Austria 

• Braskem faced production issues at its PPBC unit in Germany 

• Converters are not concerned about overall availability

• Local spot (€/ton): Homo-PP 1180-1280 | PPBC 1230-1330 FD

 

April PP offers in line with expectations in Mid-East

• Suppliers reveal April offers with rollovers to increases 

• Trading moderate ahead of Ramadan 

• Buyers are shy from buying large volumes 

• Deals start concluding with decreases from initial levels

• Local PP in S.Arabia ($/ton): Raffia and inj., 1130-1150 FD 

• Import PP in UAE ($/ton): Raffia and inj., 1190-1220 CIF

 

Import PP retains strength at prevailing levels in Turkey

• Brent oil breaches $70/bbl threshold 

• Deals up €40 for European PP fibre, PPRC type 3 

• Fibre-raffia delta still wide at $115 

• Buyers cautious amid economic woes, nearing Ramadan

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

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

 

Egypt’s local PP producers reveal firm April offers

• Import PP market stable to firm 

• EPPC’s April prices up by $20 

• OPC’s April offers up by EGP40-84 

• Local homo PP film prices firm on limited availability 

• Demand remains restricted despite high season

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

Send Comment

view latest news
More News