2019/07/19 11:51:53

News Code : 43163

Polypropylene Analysis, July 18.

http://www.petrotahlil.com/en/tiny/news-43163

Petrotahlil :

Local PP softens after almost a month-long firming in China

• Local homo-PP market edges down CNY50 on week

• Import homo-PP market chases a largely steady trend

• Lower futures, volatile crude oil weigh on sentiment

• Local polyolefin inventories slightly higher

• New capacities keep medium-term PP outlook bearish

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

PP uptrend continues in SEA despite softer China

• ASEAN origin homo-PP raffia & inj. up $20 on week

• Mid-East origin homo-PP raffia & inj. flat on week

• China’s local PP market turns softer on futures

• Vietnam’s local PP market reaches 7-week high

• Eyes on fluctuating crude oil futures

• Import homo-PP raffia, inj. ($/ton): 1060-1160 CIF

PP prices hit lowest levels nearly in two years in Italy

• More July deals closed with €80 drops

• Buyers do some pre-buying on low prices

• Players wonder if PP prices might rebound soon

• August outlook is stable amidst lower spot C3 and rising energy

• September voices emerge firmer

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

PP demand slightly revives in Europe on pre-buying

• July PP deals settled €80 down

• Demand seems revived on pre-buying activity

• Players expect downturn to finish soon on low PP prices

• August early expectations are stable

• Firmer naphtha may counterbalance lower spot C3

• Local spot (€/ton): Homo-PP 1140-1240 | PPBC 1190-1290 FD

Previous low ends fade, PP demand yet to respond in Turkey

• Firmer talks prevail among players

• Buyers, sellers move to the sidelines

• Turkey’s import market moves slightly above China

• Increases halted in China’s import market

• Fibre-raffia gap remains above $100 since March

• Local ($/ton): Raffia 1350-1420 inc VAT

• Import Saudi ($/ton): Raffia 1050-1080 | Fibre 1150-1180 CIF

Suppliers approach Mid-Eastern PP markets with rollovers to decreases

• Initial offers in line with expectations

• Buyers remain unresponsive to lower offers

• Players feel uncertain about upcoming trend

• Local PP in S. Arabia ($/ton): Raffia and inj. 1130-1150 FD

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

Egypt's local PP market sustains softening on poor activities

• July import deals largely unchanged

• Local prices down by EGP100-300

• Poor demand continues to pressure the market

• Lower crude oil futures, C3 costs weigh on sentiment

• Import PP ($/ton): Raffia and inj. 1080-1160 CIF

African PP markets remain on soft footing

• July offers steady to soft in N. Africa

• Initial offers in West, East Africa steady

• Weak demand prevails regional markets

• Import PP in Algeria ($/ton): Raffia and inj. 1130 CIF

• Import PP in Kenya ($/ton): Raffia 1120-1140 | Inj. 1120-1150 CFR

END