PP closes May on a weak note in SEA
PP closes May on a weak note in SEA
• Import homo-PP prices hit 10-week low
• Demand sluggish on re-escalating trade tensions
• Eid holiday approaches in Indonesia, Malaysia, Singapore
• Malaysian producer rolls over local PP for June
• Indonesian producer cuts local homo-PP after 2 months
• Lower oil, weak sentiment in China add to softening
• Import homo-PP raffia, inj. ($/ton): 1100-1180 CIF
Import PP heads south in China on poor demand
• Buyers stay sidelined amid concerns over trade war
• Saudi major cuts June PP offers by $50
• Saudi raffia breaks below $1100 CIF threshold
• Local raffia largely stable after last week’s rebound
• Higher local supplies, lower oil weigh on sentiment
• New PP capacities to be launched in China in H2 2019
• Import homo-PP raffia ($/ton): 1090-1140 CIF
Stable to firmer outlook dominates Europe’ PP for June
• Buyers close their May PP contracts with €20 hikes
• June C3 to settle steady to €10 up
• Calm demand, lower naphtha support stability for PP
• Sellers: Rising spot C3 sustains firmer projections for June
• Local spot (€/ton): Homo-PP 1240-1340 | PPBC 1290-1390 FD
PP players see stability to small hikes on horizon in Italy
• Stable to firmer outlook is still in place for June PP
• Demand is not so vivid, supply remained sufficient
• June C3 contracts awaited stable to €10 up
• Buyers received lower near-to-prime PP offers
• Higher spot C3 prices support slightly firmer outlook
• Local spot (€/ton): Homo-PP 1190-1300 | PPBC 1250-1350 FD
Middle Eastern PP players await June offers
• May PP deals concluded steady to softer
• Poor market sentiment persists
• Approaching Eid holidays keep demand limited
• Local PP in S.Arabia ($/ton): Raffia and inj. 1140-1150 FD
• Import PP in UAE ($/ton): Raffia and inj. 1190-1210 CIF
Turkey’s import PP market sees 2 month-low after rapid discounts
• Iranian fibre breaks below $1300 CPT
• Turkmenian raffia traded $40 lower on week
• Lower China adds to weak June expectations
• Activities are sluggish due to the Eid
• Local raffia sold below $1500 level
• Local ($/ton): Raffia 1470-1540 inc VAT
• Import Saudi ($/ton): Raffia 1170-1190 | Fibre 1260-1280 CIF
Will firm costs outweigh sluggish demand in African PP markets?
• Sellers stand firm, citing short supplies
• Activities limited amid rainy season, upcoming holiday
• Some players expect improved demand after Eid
• Imports in Algeria ($/ton): Homo PP 1230 CIF
• Imports in Kenya ($/ton): Homo PP 1180-1245 CIF
Egypt’s local PP market softer ahead of holidays
• June import PP offers awaited steady to soft
• Import market unchanged amid limited activity
• Local prices steady or down by EGP200-300
• Players sidelined amid approaching holidays
• Import PP ($/ton): Raffia 1170-1220 | Film 1210-1230 CIF
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