News Code : 43163

Petrotahlil :

Local PP softens after almost a month-long firming in China

• Local homo-PP market edges down CNY50 on week 

• Import homo-PP market chases a largely steady trend 

• Lower futures, volatile crude oil weigh on sentiment 

• Local polyolefin inventories slightly higher 

• New capacities keep medium-term PP outlook bearish

• Import homo-PP raffia ($/ton)1030-1110 CIF


PP uptrend continues in SEA despite softer China

• ASEAN origin homo-PP raffia & inj. up $20 on week 

• Mid-East origin homo-PP raffia & inj. flat on week 

• China’s local PP market turns softer on futures 

• Vietnam’s local PP market reaches 7-week high 

• Eyes on fluctuating crude oil futures

• Import homo-PP raffia, inj. ($/ton): 1060-1160 CIF


PP prices hit lowest levels nearly in two years in Italy

• More July deals closed with €80 drops 

• Buyers do some pre-buying on low prices 

• Players wonder if PP prices might rebound soon 

• August outlook is stable amidst lower spot C3 and rising energy 

• September voices emerge firmer

• Local spot (€/ton): Homo-PP 1080-1180 | PPBC 1130-1230 FD


PP demand slightly revives in Europe on pre-buying

• July PP deals settled €80 down 

• Demand seems revived on pre-buying activity 

• Players expect downturn to finish soon on low PP prices 

• August early expectations are stable 

• Firmer naphtha may counterbalance lower spot C3

• Local spot (€/ton): Homo-PP 1140-1240 | PPBC 1190-1290 FD


Previous low ends fade, PP demand yet to respond in Turkey

• Firmer talks prevail among players 

• Buyers, sellers move to the sidelines 

• Turkey’s import market moves slightly above China 

• Increases halted in China’s import market 

• Fibre-raffia gap remains above $100 since March

• Local ($/ton): Raffia 1350-1420 inc VAT 

• Import Saudi ($/ton): Raffia 1050-1080 | Fibre 1150-1180 CIF


Suppliers approach Mid-Eastern PP markets with rollovers to decreases

• Initial offers in line with expectations 

• Buyers remain unresponsive to lower offers

• Players feel uncertain about upcoming trend

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

• Import PP in UAE ($/ton): Raffia and inj. 1100-1150 CIF


Egypt's local PP market sustains softening on poor activities

• July import deals largely unchanged 

• Local prices down by EGP100-300 

• Poor demand continues to pressure the market 

• Lower crude oil futures, C3 costs weigh on sentiment

• Import PP ($/ton): Raffia and inj. 1080-1160 CIF


African PP markets remain on soft footing

• July offers steady to soft in N. Africa 

• Initial offers in West, East Africa steady 

• Weak demand prevails regional markets

• Import PP in Algeria ($/ton): Raffia and inj. 1130 CIF 

• Import PP in Kenya ($/ton): Raffia 1120-1140 | Inj. 1120-1150 CFR

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