Asian
PP: Falls as demand weakens across region ■ China demand impacted by
pandemic-related lockdown ■ Southeast Asia takes a step
back ahead of holidayDue
to lower demand in Asia, polypropylene prices dropped in the week ending April
27, Chinese
domestic prices dropped by yuan 250-285/mt during the week. CFR Fareast Asia
price fell $20/mt during the reporting week. Prices in Southeast Asia fell $10-15/mt, while South Asia
dropped $20-25/mt during the same time period. In China, local convertors take only lower prices. Everything is slowing down. According to a China-based source, convertors aren't getting
their downstream price back." Coronavirus-related
shut down in Shanghai and an increase in Beijing cases, further affected
demand. This has raised fears about new restrictions. Supply chain disruptions had already caused the Shanghai
shutdown earlier, which affected demand. According
to the source, there...