News Code : 43288

Petrotahlil :

China PP prices extend losses on subdued demand. 

• Import homo-PP down for third week

• Cautious mood prevails amid tumbling yuan

• Jan PP futures down CNY191 since early week

• Local polyolefin supplies still high

• Planned/unplanned PP shutdowns in India, Russia, SEA

• Import homo-PP raffia ($/ton): 1000-1040 CIF

 

Import homo-PP market sinks to 2-year low in SEA. 

• Initial Sept PP offers indicate rollovers to decreases

• Pressure from bearish China PP market continues

• Buyers stay sidelined as they expect further price cuts

• Tightness fails to pull local PP prices up in Indonesia

• Vietnam’s Nghi Son plans PP maintenance in Nov

• Import homo-PP raffia, inj. ($/ton): 1010-1120 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

 

Turkey’s PP market returns from holiday with further softening. 

• Post-holiday demand is discouraging

• Fibre-raffia gap still above $100 on average

• Converters report poor export demand

• Weak China adds to downward pressure

• Turkey-China gap narrows to $25 on average

• PP shutdowns in Asia, Russia yet to raise supply concerns

• Local ($/ton): Raffia 1320-1360 inc VAT

• Import Saudi ($/ton): Raffia 1020-1030 | Fibre 1120-1140 CIF

 

August PP deals concluded stable in Mid-East. 

• Demand remains dampened as holiday mood lingers

• Players expect no major changes for near term

• Traders eye monomer markets for possible strategies for Sept

• 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 market resumes softening on weak activities. 

• Import deals wrapped steady to soft from initial levels

• Local PP raffia, film down by EGP200-500 from pre-Eid levels

• Cash flow issues hamper trading activity

• Players voice softer expectations for September

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

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