News Code : 42774

• Overseas supplies remain tight on turnarounds • Crude oil stands at six-month highs • Local PP slightly softens for 2nd week • Pressure from ample domestic supplies continues • PP futures down CNY39 on week • Import homo-PP ($/ton): 1080-1170 CIF

Petrotahlil-Italy’s PP market is calm, sentiment remains firm for May. 
• More C3 expectations emerge €20-30 higher for May 
• April deals finalized with €20 hikes 
• Strong crude oil, energy costs sustain firmer outlook 
• Buyers expect small increases on C3
• Local spot (€/ton): Homo-PP 1180-1280 | PPBC 1230-1330 FD
 
Supply-driven price gains continue in SEA PP market. 
• Import prices up $10-20 on week 
• Overseas supplies remain limited 
• Energy complex also give rise to PP hikes 
• Local prices up in Vietnam, Thailand 
• Demand is still not considered brilliant
• Import homo-PP raffia, inj. ($/ton): 1170-1200 CIF
 
PP market sees low ends disappear in Turkey
• May C3 contract expected €20-30 higher in Europe 
• Expectations center on rollovers to only small PP hikes in Turkey 
• Import prices in China up on reduced overseas cargos 
• Higher USD/TL parity, nearing Ramadan limit purchases
• Local ($/ton): Raffia 1570-1610 ex-warehouse 
• Import Saudi ($/ton): Raffia 1180-1210 | Fibre 1280-1300 CIF
 
Firmer May expectations for PP persist on higher costs in Europe. 
• April business closed €20 higher 
• PP fundamentals remained firmer 
• Spot propylene prices surge further 
• Expectations of €20-30 hikes for May C3 prevail among players 
• Spot C3 prices hit their highest levels since mid-November, 2018
• Local spot (€/ton): Homo-PP 1220-1320 | PPBC 1270-1370 FD
 
Egypt’s PP players wrap April deals at initial levels. 
• Firm expectations are voiced for May 
• Buyers in import market hesitant amid volatile ex. rates 
• Trading activities slow amid approaching Ramadan 
• Local raffia offers slightly higher on lower supplies
• Import PP ($/ton): Raffia 1180-1220 | film 1210-1230 CIF
 
Mid-Eastern PP markets on hold ahead of May offers. 
• Initial expectations are for steady-to-soft pricing 
• April deals concluded with mostly rollovers 
• Buyers achieve lower deals in Lebanon 
• Supplies remain comfortable amid low demand
• Local PP in S.Arabia ($/ton): Raffia and inj., 1130-1150 FD 
• Import PP in UAE ($/ton): Raffia and inj., 1190-1220 CIF
 
Africa’s PP markets quiet amid slow activities
• April PP offers emerge firmer in Algeria 
• ELEME’s initial April PP offers unchanged 
• Demand fail to gain traction despite high season
• Imports in Algeria ($/ton): Homo PP 1230-1260 CIF 
• Imports in Kenya ($/ton): Homo PP 1200-1220 CFR

 

Send Comment

view latest news
More News