News Code : 43254

Petrotahlil :

Import PP moves back to 2-year-low in China. 

• Delay of US tariffs yet to reflect on sentiment

• Buyers still cautious on weaker yuan

• PP hit a renewed 2-year low after stabilizing in July

• Oil fluctuates amid recession concerns, supply-cut

• Futures up 3 days in a row, down on Thursday

• Import homo-PP raffia ($/ton): 1010-1070 CIF

 

Local supply limitations fail to generate PP demand in SEA. 

• Import PP down further by $10-30

• Competitive Chinese PP raffia shows up in Vietnam

• Two PP shutdowns in Thailand, one in Indonesia

• Limited local supply fails to generate demand

• Waiting stance prevails among players

• Import homo-PP raffia, inj. ($/ton): 1030-1130 CIF

 

Rollovers pass on initial Aug PP deals in Italy. 

• Some PP deals closed at stable levels for Aug

• Sellers are satisfied with their sales so far

• Buyers are ready to leave their desks for holidays

• Early Sept projections are calling for an uptrend or stability

• Buyers are skeptical about an upturn on lower energy costs

• Local spot (€/ton): Homo-PP 1070-1180 | PPBC 1120-1230 FD

 

August PP prices remain stable on calm demand in Europe. 

• PP sellers issue rollovers in their Aug prices

• A few deals concluded at stable levels

• Buyers are about to leave the market for holidays

• Early expectations showed up stable to firmer for Sept

• Buyers are at odds about possible hikes

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

 

Fading demand, weaker China drag down PP further in Turkey. 

• Aug outlook dominated by holiday lull

• Purchases mainly based on urgent needs

• Raffia supplies outpace demand

• Turkmenian raffia down to $1000 CPT

• Crude prices sink week over week

• Turkey trades $40 below China on weekly average

• Local ($/ton): Raffia 1300-1370 inc VAT

• Import Saudi ($/ton): Raffia 1030-1050 | Fibre 1120-1150 CIF

 

Softening extends into August in Mid-Eastern PP markets. 

• Aug offers steady to softer in S. Arabia

• Holiday lull weighs on markets

• Aug prices drop $30-40 in East Med

• Local Emirati producer keep levels unchanged

• Purchases kept at bare minimum

• Demand dampened on approaching Eid

• Local PP in S. Arabia ($/ton): Raffia and inj. 1070-1090 FD

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

 

Egypt’s local PP producer reveals lower August offers. 

• EPPC’s offers $30 lower than July

• OPC absent from local market this month

• Players achieve further discounts on deals

• Trading activities slow down ahead of holidays

• Import PP ($/ton): Raffia and inj. 1050-1120

 

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

 

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