News Code : 43109

Petrotahlil :
Import PP market rec­overs from two-year low in SEA
• Import homo-PP mar­ket up $10-20 on week 
• SEA import PP mark­et trails behind Chi­na 
• China PP market ri­ses on higher futures 
• Local PP markets start July on stable to firmer note 
• Resumption of trade talks boosts buying sentiment
• Import homo-PP raf­fia, inj. ($/ton): 1040-1110 CIF

 

Import PP prices chase locals higher in China
• Local homo-PP posts further weekly gain of CNY50-100 
• Import homo-PP stable to $30 higher on week 
• PP futures climb CNY319 on week 
• Lower local supply, improving interest add to firming 
• Sentiment firmer as China-US resume trade talks
• Import homo-PP raffia ($/ton): 1030-1100 CIF

 

Lower C3 pave the way for huge drops in Europe’s PP for July
• Sellers issue €80 decreases on July PP prices 
• July C3 agreed with €80 drops 
• Buyers remain main­ly sidelined 
• Demand is unsuppor­tive amid comfortable supply 
• Sharp decreases are expected to pass on deals
• Local spot (€/ton): Homo-PP 1140-1250 | PPBC 1200-1310 FD

 

Downturn gains speed in Italy’s PP market for July
• Initial July offers match C3 decrease 
• C3 settled with drops of €80 
• Weak demand persists in the market 
• PP prices hit lowest levels since Nov-Dec 2017 
• Strong cuts might stir buying appetite
• Local spot (€/ton): Homo-PP 1090-1190 | PPBC 1140-1240 FD

 

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 sentiment slightly improves in Turkey amid firming in China
• Turkey lacks premium over China 
• Sellers and buyers play a tug of war 
• July C3 settles down €80 in Europe 
• Local raffia broke below $1350 level 
• Fibre-raffia gap still above $120 
• Buy ideas down at $1100 CIF for fibre
• Local ($/ton): Raffia 1320-1430 inc VAT 
• Import Saudi ($/ton): Raffia 1040-1060 | Fibre 1150-1165 CIF

 

July PP offers down on softer costs, poor demand in Africa
• ELEME keeps offers unchanged from June 
• Bearish upstream markets support soft sentiment 
• North and South Af­rican markets expect drops
• Imports in Kenya ($/ton): Homo PP 1120­-1140 CFR 
• Imports in Nigeria ($/ton): Homo PP 11­80 CFR

 

Initial July PP offers announced with decreases in Egypt
• EPPC’s July offers down by $70/ton 
• OPC’s new offers also awaited lower 
• Saudi suppliers’ offers in line with expectations 
• Demand remains sluggish amid tight cash, slow end sales
• Import PP ($/ton): Raffia 1080-1100 CIF
 
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