News Code : 43084

Petrotahlil :

July PP offers to SEA indicate decreases

• Initial July homo-­PP offers to Indones­ia fall $100 

• July local PP offe­rs down MYR300 in Ma­laysia 

• China’s local PP market chases futures higher 

• WTI crude hits fiv­e-week high 

• Players wait for the outcome of G20 Su­mmit

 

Local PP prices move upwards on futures in China

• Local PP up for first time since early Apr 

• PP futures post weekly gain of CNY183 

• WTI crude reaches five-week high 

• Local polyolefin supplies retreat 

• Eyes on Trump-Xi meeting during G20 summit

Softer outlook dominates Italy’ PP market for July

• Players sidelined ahead of July C3 

• Expectations are centered on bearish outlook 

• Decreases of around €50-60 anticipated for C3 and PP 

• Lower spot C3, weak fundamentals weigh on the market 

• Fresh gains in naphtha prices might limit downtrend

 

PP sentiment weakens amid softer voices for July in Europe

• June deals fully concluded stable to €20 lower 

• Players anticipate €50-60/ton drops in July C3 and PP 

• Spot C3 prices hit lowest levels since early April 

• Falling costs might pull PP prices down for July 

• Demand is weak amid comfortable supply

 

Will stagnancy in Mi­d-Eastern PP markets persist in July?

• Offers mostly unch­anged despite weak activities 

• Buyers more in fav­or of local cargoes, but purchases restr­icted 

• Long supplies, dis­couraging demand wei­gh on July outlook 

• Most players expect drops for next mon­th

 

PP downturn persists in Turkey, is bottom near?

• Higher TRY/USD fails to boost demand 

• Eyes on imminent outcome of G20 Summit 

• Import homo-PP below new thresholds 

• Local raffia plunges on aggressive offers 

• Import, local raffia stand at 2-year low 

• July C3 expected €50 lower in Europe 

• Turkey-China gap at year-to-date low

 

Lower costs, discour­aging demand weigh on Africa’s PP markets

• June PP offers sur­face steady to soft 

• ELEME June PP offe­rs unchanged 

• Thin demand, ample supplies call for further decreases 

• Tight money flows add to slow demand

 

Egypt’s local PP market resumes drops on ample supplies

• Import PP June deals closed 

• Local prices down by EGP300-1500 

• Initial expectations for July are for rollovers to decreases 

• Higher crude oil futures might cushion price falls

 

END

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