China domestic PP yarn gains 1.5% on supply concerns

05 September 2012 10:37  [Source: ICIS news]

SINGAPORE (ICIS)--China’s domestic prices of polypropylene (PP) yarn increased by 1.5% this week on expectations of tightening supply, which prompted producers to hike offers, industry sources said on Wednesday.

On 5 September, domestic PP Yarn market prices were assessed at (yuan) CNY11,350-11,800/tonne ($1,787-1,858/tonne) EXWH (ex-warehouse), up by CNY100-250/tonne from 31 August, according to Chemease, an ICIS service in China.

Key local producers in China have raised their PP yarn offers to CNY11,400-11,700/tonne EXW(ex-works) on Wednesday, CNY100-180/tonne higher compared with 31 August levels, market sources said.

Supply may tighten because of a number of plant maintenance scheduled in August and September, they said.

($1 = CNY6.35)

By: Amy Yu

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