Zhongjing Petrochemical encountered unexpected technical issues, leading to the shutdown of four PP production lines in Fujian, China, late last week, according to market sources. Restoration efforts are underway, though delays are anticipated.
Industry sources indicate that the sustained strength in PP deals is driven by trading houses aggressively procuring cargo for exports. Local buyers, however, largely refrained, as the prevailing auction deal prices are unviable for the domestic spot market.
The weak performance of the Shenhua Auction Platform reflected persistent sluggishness in the domestic spot market. A lack of confidence in the near-term outlook kept buyers on the sidelines, even as current price levels appeared increasingly attractive.
| PP | LLDPE | PVC | |
|---|---|---|---|
| Close (CNY/ton) | 7,267 -8 | 7,708 -40 | 5,007 -45 |
| Close (USD/ton) | 7,267 -1 | 7,708 -6 | 5,007 -6 |
| Volume | 462,545 +2514 | 525,673 +2374 | 1,160,000 +30000 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
|||
| PX | PTA | MEG | |
|---|---|---|---|
| Close (CNY/ton) | 6,856 +68 | 4,860 +34 | 4,433 -31 |
| Close (USD/ton) | 6,856 +9 | 4,860 +5 | 4,433 -4 |
| Volume | 148,245 -4685 | 1,320,000 +0 | 373,492 -284 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
|||
| NYMEX | Sign In or Subscribe |
| Brent | Sign In or Subscribe |
| Naphtha CFR Japan | Sign In or Subscribe |
| Ethylene CFR NEA | Sign In or Subscribe |
| Ethylene CFR SEA | Sign In or Subscribe |
| Propylene FOB South Korea | Sign In or Subscribe |
| Propylene CFR China | Sign In or Subscribe |
| Styrene FOB South Korea | Sign In or Subscribe |
| Butadiene FOB South Korea | Sign In or Subscribe |
| Benzene FOB South Korea | Sign In or Subscribe |
| PX CFR Taiwan | Sign In or Subscribe |
| VCM CFR FEA | Sign In or Subscribe |
| VCM CFR SEA | Sign In or Subscribe |
| EDC CFR FEA | Sign In or Subscribe |
| EDC CFR SEA | Sign In or Subscribe |
| Propane FOB Saudi Arabia | Sign In or Subscribe |
| Butane FOB Saudi Arabia | Sign In or Subscribe |
