South China PP yarn prices fall on new supply

08 September 2006 04:26  [Source: ICIS news]

SHANGHAI (ICIS news)--Prices for yarn grade polypropylene (PP) fell CNY50-200/tonne in south China this week after Maoming Petrochemical started up its new plant, local traders said on Thursday.

 

Prices fell to CNY13,250-13,600/tonne ex-warehouse after Maoming Petrochemical delivered 3,000-3,500 tonnes of PP to many areas in Guangdong province, they added.

 

Supply in south China also increased with the arrival of deep-sea cargoes traded at relatively lower prices, traders said. More of such cargoes are expected in mid-September.

 

Maoming Petrochemical, a subsidiary of Chinese energy major Sinopec, started its new 300,000 tonne/year PP unit on 19 August and has been producing on-spec yarn material since 21 August.

By: Sophia Li
+65 6789 8828

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