Price List: Zhongjing up-adjusted export PP offers for the second time this week.

Following a satisfactory number of transactions achieved in the domestic market on the first trading day of the week, Zhongjing Petrochemical decided to increase export offers further, adding another $5/ton on top of the $10/ton earlier this week.

The latest offers from the producer and changes from the previous offers are as follows:

As reported, trading activities in the local China market have been relatively strong over the past several sessions amid pre-holiday replenishment. Although Chinese buyers are still shy from stocking up too lengthy inventory, any uptick in demand here would eventually elevate the sentiment across the region.

Background:

Fujian Zhongjing Petrochemical is a subsidiary of China Soft Packaging Group Holdings Limited – a leading BOPP packaging products manufacturer in China. The company ventured into the upstream sector by building its first PP plant in 2012 and has been actively planning to expand the capacity since then.

Existing plants include two PP lines with a nameplate capacity of 1 million tons/year and a 750,000 tons/year propane dehydrogenation (PDH) unit based in Fujian, China. 

In 2018, the company signed a contract to use LyondellBasell’s 5th Generation Spheripol technology to build a new PP line with an estimated annual output of 1.2 million tons/year. The new plant is scheduled to come online between late 2022 to early 2023. 

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