Click the icon to add a specified price to your Dashboard list. This makes it easy to keep track on the prices that matter most to you.
This week, Polypropylene prices were assessed flat in the Asian region.
An industry source in Asia on condition of anonymity informed a Polymerupdate team member, " Mounting concerns over potential global oil supply disruptions caused by sanctions imposed by the US on certain oil-producing countries, exerted a bullish pressure on international oil prices."
The source added, “A persistently strengthened US dollar against other Asian currencies led to a rise in the cost of import purchases, dampening trade sentiment in the region.”
In Far East Asia, PP raffia and PP injection prices were assessed at the USD 875-915/mt CFR levels, both unchanged from the previous week. PP film and BOPP prices were assessed stable at the USD 885-925/mt CFR levels. PP block copolymer prices were also assessed steady at the USD 905-935/mt CFR levels.
The supply proportion in the polypropylene market is decreasing, though production capacity utilization continues to be high (above 80%). Industry sentiment is stable due to market support from rising crude oil prices, slower-than-anticipated industrial chain accumulation, and moderate demand recovery. Export expectations are being impacted by foreign tariffs, with the situation exacerbated by sluggish post-holiday demand rebound. As production facilities recommence operations, supply pressure is expected to rise with further capacity expansions anticipated. Overall supply pressure continues to be high in spite of gradual reduction in inventories by upstream businesses. The market is anticipated to stay range-bound in the near term.
In Southeast Asia, PP raffia and PP injection grade prices were assessed at the USD 940-980/mt CFR levels, both rolled over from the previous week. PP film and BOPP prices were assessed steady at the USD 950-990/mt CFR levels. PP block copolymer prices were assessed flat at the USD 990-1020/mt CFR levels.
In Southeast Asia, a Saudi Arabian producer has offered its PP raffia and PP injection grade at the USD 970/mt levels, for shipment in February 2025. A producer from China has offered its PP raffia and PP injection at the USD 945/mt levels, for shipment in February 2025. In Indonesia, a producer from Saudi Arabia has offered its PP raffia and PP injection grade at the USD 950/mt levels for shipment in February 2025.
In Southeast Asia, regional supply constraints have provided some support to prices with suppliers making efforts to preserve margins. However, buying interest has been subdued due to persistent worries about end-product demand. Meanwhile, a large number of buyers have opted to adopt a wait-and-watch approach with China witnessing its biggest five-year post-holiday spike in polyolefin inventories.
In India, PP raffia and PP injection prices were assessed steady at the USD 970-990/mt CFR levels. PP film and BOPP prices were assessed at the USD 1000-1020/mt CFR levels, both constant week on week. PP block copolymer prices were assessed at the USD 1010-1030/mt CFR levels, rolled over from last week.
In India, PP prices remained largely unchanged following last week's price increases. Although discussions and transactions remained in the same range, higher offers faced resistance, mirroring softened buying interest. Restocking activity coupled with downstream demand uncertainty restricted further price increases.
In Pakistan, PP raffia and PP injection grade prices were assessed at the USD 1000-1040/mt levels, both lower by USD (-10/NC/mt) from the previous week. PP film and BOPP prices were assessed at the USD 1020-1070/mt CFR levels, both week on week decreased by USD (-10/NC/mt). PP block copolymer prices were assessed at the USD 1030-1100/mt CFR levels, a fall of USD (-10/NC/mt) from last week.
In Pakistan, a few GCC-based suppliers announced price reductions owing to a rise in the availability of cargoes originating from China following the Lunar New Year holiday. Market outlook continues to remain bleak, with the situation further aggravated by the persisting political turmoil in the country.
In Sri Lanka, PP raffia and PP injection grade prices were assessed at the USD 1000-1050/mt CFR levels, both unchanged from the previous week. PP film and BOPP prices were assessed at the USD 1050-1080/mt CFR levels, both rolled over week on week. PP block copolymer prices were assessed flat at the USD 1070-1090/mt CFR levels.
In Bangladesh, PP raffia and PP injection prices were assessed at the USD 990-1020/mt CFR levels, both steady from the previous week. PP film and BOPP prices were assessed at the USD 1010-1040/mt CFR levels, both constant week on week. PP block copolymer prices were assessed stable at the USD 1050-1100/mt CFR levels.
In Sri Lanka & Bangladesh, limited import offers were seen in the market. Purchase activity also reported to be steady in the region. Meanwhile, the Sri Lanka market is closed on account of bank holiday.
Feedstock propylene prices on Tuesday were assessed at the USD 855-865/mt CFR China levels, a fall of USD (-10/mt) from the previous week. FOB Korea propylene prices were assessed at the USD 830-840/mt levels, a week on week decline of USD (-15/mt).
In plant news, PetroChina Lanzhou Petrochemical is likely to take its Polypropylene (PP) unit off stream on February 24, 2025 for maintenance. The plant is slated to remain offline until February 28, 2025. Located in Lanzhou, Gansu province of China, the unit has a production capacity of 300,000 mt/year.
In other plant news, Oriental Fuji is likely to shut its No.1 Polypropylene (PP) unit in mid-March 2025 for maintenance. The unit is slated to remain offline for about one month. Located in Ningbo, Zhejiang in China, the No.1 PP unit has a production capacity of 400,000 mt/year.
In another plant news, Sinopec Anqing Petrochemical has restarted its Polypropylene (PP) unit on January 20, 2025. The unit was shut for maintenance on January 13, 2025. Located in Anqing, China, the PP unit has a production capacity of 300,000 mt/year.
