News Code : 42971

PP closes May on a weak note in SEA

• Import homo-PP prices hit 10-week low 

• Demand sluggish on re-escalating trade tensions 

• Eid holiday approaches in Indonesia, Malaysia, Singapore 

• Malaysian producer rolls over local PP for June 

• Indonesian producer cuts local homo-PP after 2 months 

• Lower oil, weak sentiment in China add to softening

• Import homo-PP raffia, inj. ($/ton): 1100-1180 CIF

 

 

Import PP heads south in China on poor demand

• Buyers stay sidelined amid concerns over trade war 

• Saudi major cuts June PP offers by $50 

• Saudi raffia breaks below $1100 CIF threshold 

• Local raffia largely stable after last week’s rebound 

• Higher local supplies, lower oil weigh on sentiment 

• New PP capacities to be launched in China in H2 2019

• Import homo-PP raffia ($/ton): 1090-1140 CIF

 

 

Stable to firmer outlook dominates Europe’ PP for June

• Buyers close their May PP contracts with €20 hikes 

• June C3 to settle steady to €10 up 

• Calm demand, lower naphtha support stability for PP 

• Sellers: Rising spot C3 sustains firmer projections for June

• Local spot (€/ton): Homo-PP 1240-1340 | PPBC 1290-1390 FD

 

 

PP players see stability to small hikes on horizon in Italy

• Stable to firmer outlook is still in place for June PP 

• Demand is not so vivid, supply remained sufficient 

• June C3 contracts awaited stable to €10 up 

• Buyers received lower near-to-prime PP offers 

• Higher spot C3 prices support slightly firmer outlook

• Local spot (€/ton): Homo-PP 1190-1300 | PPBC 1250-1350 FD

 

 

Middle Eastern PP players await June offers

• May PP deals concluded steady to softer 

• Poor market sentiment persists 

• Approaching Eid holidays keep demand limited

• Local PP in S.Arabia ($/ton): Raffia and inj. 1140-1150 FD 

• Import PP in UAE ($/ton): Raffia and inj. 1190-1210 CIF

 

 

Turkey’s import PP market sees 2 month-low after rapid discounts

• Iranian fibre breaks below $1300 CPT 

• Turkmenian raffia traded $40 lower on week 

• Lower China adds to weak June expectations 

• Activities are sluggish due to the Eid 

• Local raffia sold below $1500 level

• Local ($/ton): Raffia 1470-1540 inc VAT 

• Import Saudi ($/ton): Raffia 1170-1190 | Fibre 1260-1280 CIF

 

 

Will firm costs outweigh sluggish demand in African PP markets?

• Sellers stand firm, citing short supplies 

• Activities limited amid rainy season, upcoming holiday 

• Some players expect improved demand after Eid

• Imports in Algeria ($/ton): Homo PP 1230 CIF 

• Imports in Kenya ($/ton): Homo PP 1180-1245 CIF

 

 

Egypt’s local PP market softer ahead of holidays

• June import PP offers awaited steady to soft 

• Import market unchanged amid limited activity 

• Local prices steady or down by EGP200-300 

• Players sidelined amid approaching holidays

• Import PP ($/ton): Raffia 1170-1220 | Film 1210-1230 CIF

 

END

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