2019/08/02 04:01:45

News Code : 43210

Softer local PP prices put pressure on imports in China.

http://www.petrotahlil.com/en/tiny/news-43210

Petrotahlil :

• Weak demand blamed for softer local prices

• Local polyolefin supplies slightly down on week

• PP futures rise CNY26 on week

• Saudi major cuts Aug raffia offers by $10-20

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

Import PP mostly stable in SEA on limited supply.

• Import market stable after a month-long firming

• Demand lackluster across regional markets

• China PP market starts Aug on a stable to softer note

• Local producer in Indonesia lifts offers

• Players cautious amid the resumption of trade talks

• Import homo-PP raffia, inj. ($/ton): 1060-1150 CIF

Aug C3 expectations turn cautiously firmer among Italian PP players.

• C3 awaited slightly higher

• Players foresees a stable to firmer trend for Aug

• Sellers aim to recover their margins

• Buyers expect rollovers in PP deals

• Weak demand might hinder increases

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

European PP players wait for Aug C3 amid divergent factors.

• Players sidelined waiting for Aug C3

• Producers might issue small increases

• Buyers are skeptical about firmer trend on weak demand

• Demand is not expected to improve ahead of summer lull

• Local spot (€/ton): Homo-PP 1130-1240 | PPBC 1180-1280 FD

PP prices lose ground ahead of Eid in Turkey.

• Local raffia breaks below $1350 on low end

• Raffia buyers report poor demand

• Converters prepare to shut plants during Eid

• Turkmenian raffia emerges at $1040 CPT

• Turkey moves below China once again

• Near-term expectations center on stability

• June PP imports fell by 24% for homo, 39% for copo

• Local ($/ton): Raffia 1310-1380 inc VAT

• Import Saudi ($/ton): Raffia 1050-1060 | Fibre 1140-1160 CIF

Mid-Eastern PP players wrap July deals at initial levels.

• Purchases still kept to minimum amounts

• Current trend expected to extend into August

• Volatile costs weigh on sentiment

• Local PP in S. Arabia ($/ton): Raffia 1130 | Inj. 1150 FD

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

Initial August PP offers surface softer in Egypt

• EPPC, OPC offers awaited

• Local PP raffia down by EGP100

• Are lower import deals achievable?

• Local purchases kept to bare minimum

• Import PP ($/ton): Raffia and inj. 1080-1120 CIF

African PP players receive stable to soft offers for Aug.

• Aug offers in Kenya mostly unchanged

• Nigeria's import PP market down by $50

• ELEME's new Aug offers lower by around $55

• Import PP in Morocco ($/ton): Raffia and inj. 1136 CIF

• Import PP in Kenya ($/ton): Raffia and inj. 1080-1120 CFR

END