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Polypropylene (PP) prices drift lower in Asia

Petrochemical industry | 24 Nov 2021 14:30 IST | Polymerupdate.com

This week PP prices journeyed southward in Asia. The price fall was triggered by bearish regional demand trends and lower import offers from overseas suppliers.

Reports of ample product availability in the region and weaker propylene feedstock values further pressured prices lower across Asia.

In Far East Asia, PP raffia and PP injection prices were assessed at the USD 1130-1180/mt CFR levels, a week on week drop of USD (-10/-20/mt). PP film prices were assessed at the USD 1150-1190/mt CFR levels, while BOPP prices were also assessed at the USD 1150-1190/mt CFR levels, both down USD (-10/-20/mt) from last week. PP block copolymer prices were assessed at the USD 1160-1200/mt CFR levels, a week on week drop of USD (-10/mt).

In China, a Middle Eastern producer has offered its PP raffia and PP injection grades at USD 1130/mt CFR levels, for shipment in December 2021. A producer from Saudi Arabia has offered its PP raffia and PP injection grades at the USD 1180/mt CFR levels, for shipment in December 2021.

In Southeast Asia, PP raffia and PP injection grade prices were assessed at the USD 1250-1300/mt CFR levels, a week on week fall of USD (-20/mt). PP film prices were assessed at the USD 1270-1310/mt CFR levels, while BOPP prices were also assessed at the USD 1270-1310/mt CFR levels, both down USD (-20/mt) from last week. PP block copolymer prices were assessed lower at the USD 1280-1320/mt CFR levels, a week on week drop of USD (-20/mt).

In Vietnam, a South Korean producer has offered its PP raffia and PP injection grades at the USD 1260/mt CFR levels, for shipment in December 2021. A Middle Eastern producer has offered its PP raffia and PP injection grades at the USD 1300/mt CFR levels, for shipment in December 2021. A Thai producer has offered its PP raffia and PP injection grades at the USD 1310/mt CFR levels, for shipment in December 2021.

In India, PP raffia and PP injection prices were assessed at the USD 1430-1480/mt CFR levels, a tumble of USD (-60/mt) from last week. BOPP prices were assessed at the USD 1450-1510/mt CFR levels, while PP film prices were also assessed at the USD 1450-1510/mt CFR levels, both down (-50/mt) from the previous week. PP block copolymer prices were assessed at the USD 1470-1540/mt CFR levels, a week on week plunge of USD (-50/mt).

In India, Middle Eastern producers have offered their PP Homopolymer grades in the range of USD 1450-1500/mt CFR levels, for shipment in December 2021. Demand and pricing trends remained bearish amid sufficient product availability in the open markets of India.

In Pakistan, PP raffia and PP injection grade prices were assessed at the USD 1470-1510/mt levels, a week on week plunge of USD (-70/mt). BOPP prices were assessed at the USD 1490-1540/mt CFR levels, while PP film prices were also assessed at the USD 1490-1540/mt CFR levels, a tumble of USD (-70/mt) from last week. PP block copolymer prices were assessed at the USD 1500-1580/mt CFR levels, a steep week on week drop of USD (-70/mt).

In Pakistan, a Saudi Arabian producer has offered its PP raffia and PP injection grades at the USD 1510/mt CFR levels, for shipment in December 2021. A Middle Eastern producer has offered its PP raffia and PP injection grades at the USD 1470/mt CFR levels, for shipment in December 2021.

In Bangladesh, PP raffia and PP injection prices were assessed at the USD 1440-1500/mt CFR levels, down USD (-10/mt) from the previous week. BOPP prices were assessed at USD 1450-1520/mt CFR levels, while PP film prices were also assessed at the USD 1450-1520/mt CFR levels, both recording a week on week decline of USD (-10/mt). PP block copolymer prices were also assessed at the USD 1470-1560/mt CFR levels, a drop of USD (-10/mt) from the last week.

In Sri Lanka, PP raffia and PP injection grade prices were assessed at USD 1440-1480/mt CFR levels, a week on week fall of USD (-20/mt). PP film prices were assessed at the USD 1450-1510/mt CFR levels, while BOPP prices were also assessed at the USD 1450-1510/mt CFR levels, both down USD (-20/mt) from last week. PP block copolymer prices were assessed at the USD 1470-1520/mt CFR levels, a week on week decrease of USD (-20/mt).

In Sri Lanka, a South Asian producer has offered its PP raffia and PP injection grades at the USD 1450/mt CFR levels, for shipment in December 2021. A Middle Eastern producer is heard to have offered its PP raffia and PP injection grades at the USD 1480/mt CFR levels, for December 2021 shipment.

Feedstock propylene prices on Tuesday were assessed at the USD 990-995/mt FOB Korea levels, while CFR China propylene prices were assessed at the USD 1015-1020/mt levels, both down USD (-20/mt) from the previous week.

In plant news, Sinopec Guangzhou Petrochemical has undertaken an unplanned shutdown at its No. 2 Polypropylene (PP) unit on November 20, 2021. Further details on the duration of the shutdown could not be ascertained. Located in Guangzhou, Guangdong, China, the No.2 PP unit has a production capacity of 50,000 mt/year.
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