China’s PP import prices up to 2% higher on supply concerns

08 July 2011 05:05  [Source: ICIS news]

SINGAPORE (ICIS)--China’s polypropylene (PP) import prices have risen by as much as 2% this week as plastics end-users and traders have started replenishing their inventories on expectations of tighter domestic supply in July and August, local distributors said on Friday.

Benchmark injection and yarn grades of PP were sold at $1,450-1,510/tonne (€1,015-1,057/tonne) CFR (cost & freight) China this week for shipment in July, local buyers and sellers said.

The prices are $20-30/tonne or 1.4-2.0% higher from last week, according to ICIS.

Domestic PP supply is expected to tighten in July and August because several local plants have been scheduled to be shut for maintenance, the distributors said.

The prices of injection and yarn grades of PP were assessed at $1,430-1,480/tonne CFR China for the week ended 1 July, ICIS data showed.

($1 = €0.70)

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By: Chow Bee Lin
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