Asian PP - China is slipping, SEA continues its firming- Chinese
Market hampered by poor economic data- Vietnam
experiences a slight supply tighteningThis week saw mixed fortunes in the Asian
polypropylene market. While domestic Chinese prices fell slightly, Southeast
Asian prices are still receiving some support. Yuan 50-70/mt higher in
East China than the previous week, at Yuan 7900-8500/mt. Prices in CFR China continued to stabilize with PP Raffia
grades ranging between S940-$950/mt through the week. The bearishness was further fueled by the economic data from
the National Bureau of Statistics. It showed lower than expected performance in
key indicators like retail sales and industrial output for July. One China-based source said that the general economic
direction is being influenced by the current poor state of the property sector. The country is experiencing a heatwave that has...