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Polypropylene (PP) prices drop in Asia

Petrochemical industry | 04 May 2022 15:00 IST | Polymerupdate.com

This week, PP prices journeyed southwards across the Asian region. Prices fell mainly on account of weaker regional demand trends and lower import offers from overseas suppliers. The decline in prices was also driven by reports of weaker propylene feedstock values.

In Far East Asia, PP raffia and PP injection prices were assessed at the USD 1150-1200/mt CFR levels, down USD (-10/-20/mt) from the previous week. PP film prices were assessed at the USD 1160-1210/mt CFR levels while BOPP prices were assessed at the USD 1160-1210/mt CFR levels, both lower by USD (-10/-20/mt) from last week. PP block copolymer prices were assessed at the USD 1170-1220/mt CFR levels, a drop of USD (-10/-20/mt) from the previous week.

In China, Middle Eastern producers have offered PP Homopolymer grades in the range of USD 1150-1200/mt CFR levels for shipment in end May/early June 2022.

In Southeast Asia, PP raffia and PP injection grade prices were assessed at the USD 1280-1350/mt CFR levels, a drop of USD (-20/mt) from the previous week. PP film prices were assessed at the USD 1300-1360/mt CFR levels while BOPP prices were assessed at the USD 1300-1360/mt CFR levels, both week on week lower by USD (-20/mt). PP block copolymer prices were assessed at the USD 1310-1380/mt CFR levels, down USD (-20/mt) from the previous week.

A Polymerupdate source in Asia while not wishing to be named informed, “Chinese traders are heard to be re-exporting cargoes to neighbouring countries in South Asia and Southeast Asia. However, buyers have adopted a cautious outlook on account of poor demand trends in the region and do not seem to be in a hurry to undertake trading activity even at the competitive prices offered by Chinese traders as compared to rates offered by Middle Eastern suppliers.”

In Vietnam, Middle Eastern producers have offered PP Homopolymer grades in the range of USD 1280-1350/mt CFR levels for shipment in end May/early June 2022.

In India, PP raffia and PP injection prices were assessed at the USD 1440-1490/mt CFR levels, a drop of USD (-10/-20/mt) from the previous week. BOPP prices were assessed at the USD 1460-1510/mt CFR levels while PP film prices were assessed at the USD 1460-1510/mt CFR levels, both lower by USD (-10/-20/mt) from the previous week. PP block copolymer prices were assessed at the USD 1490-1580/mt CFR levels, a week on week decrease of USD (-1/-20/mt).

A domestic Polymerupdate source stated on condition of anonymity, “Reliance Industries Limited decreased its PP prices by Rs.5/kg basic, with effect from May 1, 2022. Price protection on PP has been withdrawn.”

“Demand outlook in the open market of India is seen dull,” added the source.

In India, a Middle Eastern producer has offered its PP Homopolymer grades at the USD 1450/mt CFR levels for shipment in May 2022. A Saudi Arabian producer has offered its PP Homopolymer grades at the USD 1490/mt CFR levels for shipment in end May/early June 2022.

In Pakistan, PP raffia and PP injection grade prices were assessed at the USD 1430-1480/mt levels, a week on week fall of USD (-30/mt). 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 lower by USD (-30/mt) from last week. PP block copolymer prices were assessed at the USD 1460-1540/mt CFR levels, a fall of USD (-30/mt) from the previous week.

In Pakistan, Middle Eastern producers have offered PP Homopolymer grades in the range of USD 1430-1480/mt CFR levels for shipment in end May/early June 2022.

In Bangladesh, PP raffia and PP injection prices were assessed at the USD 1470-1520/mt CFR levels, a drop of USD (-30/mt) from the previous week. BOPP prices were assessed at USD 1480-1540/mt CFR levels while PP film prices were assessed at the USD 1480-1540/mt CFR levels, both lower by USD (-30/mt) from last week. PP block copolymer prices were assessed at the USD 1500-1580/mt CFR levels, a decline of USD (-30/mt) from the previous week.

In Bangladesh, Middle Eastern producers have offered PP Homopolymer grades in the range of USD 1470-1520/mt CFR levels for shipment in end May/early June 2022.

In Sri Lanka, PP raffia and PP injection grade prices were assessed at the USD 1480-1550/mt CFR levels, a drop of USD (-20/mt) from the previous week. PP film prices were assessed at the USD 1490-1580/mt CFR levels while BOPP prices were assessed at the USD 1490-1580/mt CFR levels, both down USD (-20/mt) from last week. PP block copolymer prices were assessed at the USD 1510-1590/mt CFR levels, a week on week fall of USD (-20/mt).

In Sri Lanka, Middle Eastern producers have offered PP Homopolymer grades in the range of USD 1480-1550/mt CFR levels for shipment in end May/early June 2022.

A Polymerupdate source based in South Asia stated, “buyers reportedly remain on the sidelines on account of the Eid al-Fitr holiday.”

Feedstock propylene prices on Tuesday were assessed at the USD 1160-1170/mt FOB Korea levels, a fall of USD (-20/mt) from last week. CFR China propylene prices were assessed at the USD 1130-1140/mt levels, a week on week drop of USD (-10/mt).
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