+(91-22) 61772000 (25 Lines)
   |   GST ID : 27AAECS6989F1ZS
   |   CIN : U72200MH2000PTC125470

Polypropylene (PP) prices drift lower in Asia

Petrochemical industry | 31 Mar 2021 16:50 IST | Polymerupdate.com

This week, PP prices dropped in Asia. The price fall was prompted by persistent sluggish regional demand trends coupled with a drop in upstream propylene values.

Weaker PP futures on the Dalian Commodity Exchange in China and lower import offers from overseas suppliers further pressured prices lower.

In Far East Asia PP raffia and PP injection prices were assessed at the USD 1230-1290/mt CFR levels a fall of USD (-10/mt) from the previous week. PP film prices were assessed at the USD 1250-1320/mt CFR levels, while PP block copolymer prices were assessed at the USD 1270-1340/mt CFR levels, both down USD (-10/mt) from last week. BOPP prices were assessed at the USD 1250-1320/mt CFR levels, a week on week fall of USD (-10/mt).

In Southeast Asia, PP raffia and PP injection grade prices were assessed at the USD 1400-1450/mt CFR levels, a sharp drop of USD (-30/-40/mt) from the previous week. BOPP prices were assessed at the USD 1410-1470/mt CFR levels, while PP film prices were at the USD 1410-1470/mt CFR levels, both down USD (-30/-40/mt) from last week. PP block copolymer prices were at the USD 1450-1510/mt CFR levels, a week on week fall of USD (-30/-40/mt).

In Vietnam, Chinese producers have offered their PP raffia and PP injection grades (oil based) at the USD 1440-1460/mt CFR levels, for a shipment in April 2021.

In Vietnam, a Chinese producer has offered its PP raffia and PP injection (Coal based) grades at the USD 1390/mt CFR levels, for a shipment in April 2021. However, buyers are heard to be bidding at the USD 1360-1365/mt levels.

In India, PP raffia and PP injection prices were assessed at the USD 1540-1610/mt CFR levels, a week on week drop of between USD (-10/-60/mt). BOPP prices were assessed at the USD 1560-1630/mt CFR levels, while PP film prices were at the USD 1560-1630/mt CFR levels, both down USD (-10/-60/mt) from the previous week. PP block copolymer prices were assessed at the USD 1600-1670/mt CFR levels, a week on week decline of USD (-10/-30/mt).

Producers from Saudi Arabia have offered their PP raffia and injection grades in the range of USD 1520-1550/mt CFR India levels, for a shipment in April 2021. Another Middle Eastern producer has offered its PP raffia and PP injection grades to India at the USD 1600/mt CFR levels, for a shipment in April 2021.

In the open markets of India, buying trends continue to remain bearish.

In Bangladesh, PP raffia and PP injection prices were assessed at the USD 1610-1690/mt CFR levels, a week on week drop of USD (-10/-30/mt). BOPP prices were assessed at USD 1620-1720/mt CFR levels, while PP film prices were assessed at the USD 1620-1720/mt CFR levels, both down USD (-10/-30/mt) from last week. PP block copolymer prices were at the USD 1640-1740/mt CFR levels, a week on week decline of USD (-10/-30/mt).

A processor based in Bangladesh while in conversation with a Polymerupdate team member said, "Asian producers are offering their PP homopolymer grades at higher price levels. Hence buyers are preferring to buy cheaper Chinese re-export PP material ahead of the Ramadan holidays."

In Bangladesh, a Vietnamese producer offered its PP raffia and injection grades at the USD 1660/mt CFR levels, for a shipment in April 2021. A Vietnamese trader has also offered its PP raffia and Injection grades (China origin re-export) in the range of USD 1480-1510/mt CFR levels, for a shipment in April 2021.

In Sri Lanka, prices of PP raffia and PP injection were assessed stable at the USD 1650-1720/mt CFR levels. PP film prices were assessed at the USD 1660-1750/mt CFR levels, while BOPP prices were assessed at the USD 1660-1750/mt CFR levels, both unchanged from the previous week. PP block copolymer prices were assessed steady at the USD 1690-1760/mt CFR levels.

In Pakistan, PP raffia and PP injection grade prices were assessed steady at the USD 1700-1790/mt levels. BOPP prices were at the USD 1720-1810/mt CFR levels, while PP film prices were also at the USD 1720-1810/mt CFR levels, both unchanged from last week. PP block copolymer prices were assessed stable at the USD 1740-1830/mt CFR levels. Buying trends were reported to be weak ahead of the Ramadan holidays.

Feedstock propylene prices on Tuesday were assessed at the USD 1125-1130/mt FOB Korea levels a week on week decline of USD (-30/mt). CFR China propylene prices were assessed at the USD 1140-1145/mt levels, a sharp fall of USD (-35/mt) from the previous week.

In plant news, Sinopec Maoming Petrochemical has shut its 300,000 mt/year PP unit on March 24, 2021, for a maintenance turnaround. Located at Maoming, Guangdong, in China, the plant is likely to remain shut until early-May 2021.

In other plant news, Sinopec Yangzi has shut its 100,000 mt/year PP unit located at Nanjing in Jiangsu province, China, on March 20, 2021, for a maintenance turnaround. The plant is expected to remain under maintenance until end-April 2021.

HMC Polymers has shut its 250,000 mt/year PP unit located at Map Ta Phut, Thailand, in mid-March 21, 2021, for a maintenance turnaround. The plant is expected to remain off-line for around 3 weeks.

Sinopec Yanshan has undertaken a planned maintenance turnaround at its No.2 & No.3 PP units in end-March 2021. Located in Beijing, China, the No.2 & No.3 PP units have a production capacity of 60,000 mt/year and 280,000 mt/year, respectively.
back to list

associate categories

News Type

Products