AsianPP:
China gains modestly, while other regions see decline- Liquidity
problems hinder buying in Vietnam- South
Asian Prices Fall on Higher SupplyThe
week ended Nov. 9 was mixed for Asian polypropylene, as the Chinese market was
somewhat rangebound and nearby regions fell. Yuan 7,825-7,905/mt was the
stable price for east China's domestic polypropylene on the week. The
China market had previously seen some support from chatter about COVID-19 curbs
being eased. The optimism faded quickly as the National Health Commission
of China signaled its commitment to its zero COVID strategy. The downsides
were limited, however, as the demand rebounded following the fall slump.
Current plant operating rates are around 85%-90%. Sources indicated that
South Korean suppliers were offering lower volumes in the CFR
market. Sources said that China's PP market is stronger than other
Southeast Asian...