Polymerupdate News - Asian polypropylene (PP) prices slip
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Asian polypropylene (PP) prices slip

Petrochemical industry | 29 Aug 2019 10:00 IST | Polymerupdate.com

This week, polypropylene prices across the Asian regions dropped. The price fall, was triggered by persistent bearish demand trends and a sharp fall in PP futures, on the Dalian Commodity Exchange in China.

A PP trader while in conversation with a Polymerupdate team member said, “buyers in key markets like China, continued to remain on the side line, owing to the persistent weakening of Yuan against the U.S. dollar and the onging trade war against the United States. This in turn, has impacted the demand trends across the other Asian regions.”

In CFR Far East Asia, PP raffia and PP injection prices, were at the USD 995/mt levels, both down USD 15/mt from the previous week. PP film prices, were assessed at the USD 1020/mt levels, a week on week fall of USD 15/mt. BOPP prices, were assessed at the USD 1015/mt levels, down USD 10/mt on the week. PP block copolymer prices, were assessed lower at the USD 1040/mt levels, a week on week drop of USD 15/mt.

In South East Asia (SEA), PP raffia and PP injection grade prices, were assessed lower at the USD 1020/mt levels, both week on week tumble of USD 30/mt. BOPP prices were at the USD 1050/mt levels, down USD 20/mt on the week. PP block copolymer prices, were at the USD 1060/mt CFR levels, a sharp fall of USD 30/mt from the previous week. PP film prices were assessed lower, at the USD 1045/mt levels, a week on week decline of USD 15/mt.

In Vietnam, a Middle Eastern producer, is heard to have concluded deals for PP raffia and PP injection grades, at the USD 1020/mt CFR levels, for a shipment in September 2019.

In India, PP raffia and PP Injection prices, were assessed lower at the USD 1070/mt levels, both down USD 10/mt from the last week. BOPP prices, were at the USD 1085/mt levels, a week on week drop of USD 20/mt. PP film prices were at the USD 1085/mt levels, down USD 10/mt from the last week. PP block copolymer prices, were assessed lower at the USD 1110/mt levels, a week on week decrease of USD 15/mt.

In India, a Middle Eastern producer, has offered its PP raffia and PP injection grades, at the USD 1070/mt levels, for shipment in September 2019.

In Pakistan, PP raffia and PP injection prices, were assessed lower at the USD 1070/mt CFR levels, both week on week drop of USD 10/mt. PP film prices, were at the USD 1100/mt CFR levels, while BOPP prices, were also at the USD 1100/mt CFR levels, both down USD 10/mt from the last week. PP block copolymer prices, were assessed lower at the USD 1100/mt CFR levels, a week on week fall of USD 20/mt.

In Bangladesh, PP raffia and PP injection prices, were assessed lower at the USD 1070/mt CFR levels, a drop of USD 20/mt from the last week. PP film prices, were at the USD 1090/mt CFR levels, while BOPP prices, were also at the USD 1090/mt CFR levels, a week on week fall of USD 20/mt. PP block copolymer prices, were assessed, at the USD 1100/mt CFR levels, a tumble of USD 30/mt on the week.

In Sri Lanka, PP raffia and PP injection prices, were assessed lower at the USD 1060/mt CFR levels, a sharp week on week fall of USD 30/mt. PP film prices, were assessed at the USD 1090/mt CFR levels, while BOPP prices, were also assessed at the USD 1090/mt CFR levels, both down USD 30/mt from the previous week. PP block copolymer prices, were assessed lower at the USD 1100/mt CFR levels, a week n week plunge of USD 40/mt.

Feedstock propylene prices on Tuesday, were assessed at the USD 920/mt FOB Korea levels, while CFR China prices of propylene, were assessed at the USD 960/mt levels, both unchanged from the previous week.

In plant news, Mangalore Refinery and Petrochemicals Ltd (MRPL), has delayed the restart of its 440,000 mt/year polypropylene (PP) plant, located at Mangalore, Karnataka, until the third week of September, 2019. The plant was shut on August 9, 2019, owing to a landslide near the pipeline area, thus damaging the pipeline. Earlier, the plant was supposed to resume operations by end-August, 2019.

In other plant news, the Indian Oil Corp Ltd (IOCL), is in plans to start a maintenance turnaround, at its polypropylene (PP) plant, this weekend. The plant is expected to remain under maintenance, for about two weeks. Located at Panipat, in the northern Indian state of Haryana, the PP plant, comprises of two units, with a production capacity of 300,000 mt/year each.
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