Import homo-PP to China hit above $900/t threshold

In China, import homo-PP prices has been following the firming trend since late Jan 2016 as the market prepared for pre-holiday replenishment and this week, prices have climbed above $900/t threshold for the first time since late November 2015, according to CommoPlast’s records.

Healthy post-holidays demand and limited supply from international suppliers are reported to be the primary factors supporting the current firming trend. A trader in Ningbo said, “We implemented $55-70/t hike on our Middle East and Indian homo-PP cargoes which are bounded to arrive by end of March and April. Some of our customers are rushing for their export orders have mutually accepted the new prices. International suppliers are having very small allocation this month and we think the market therefore still have some room to increase further.”   

Import homo-PP yarn and injection to China this week stand at $870-930/t CFR China, LC 0-90 days term.

Kindly visit the Daily Price section for the latest import and local prices to/in China and Southeast Asia market.