Petrotahlil - Chinese polypropylene (PP) and polyethylene (PE) inventories held by key state-controlled producers Sinopec and PetroChina were 935,000t today, up by 140,000t from a week earlier.

The inventories remain high compared with typical levels of around 700,000t.

But despite the rise in stocks, polymer prices continued to rebound after the 1-5 May labour holiday in China.

Polymer prices benefited from rising crude futures this week as more countries opt to lift Covid-19 restrictions.

PP raffia prices in China increased by $15/t from last week to $810-840/t today, while high-density polyethylene film prices were up by $20/t to $720-760/t over the same assessment period.

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