AsianPP: China prices fall as Southeast Asia falls- China's prices drop despite a limited recovery in the
earlier part of the week- South Korea, Middle East cargoes race for the bottom in
SoutheastAsia The Asian polypropylene market prices
fell once again due to poor Chinese demand driving prices lower in neighboring
regions. The
week ended at Yuan 8,050-8,500/mt, East China's prompt domestic cargoes
declined by Yuan 50-70/mt. After falling
below the Yuan 8,000 mark last week, prices for Chinese domestic PP rose in the
week. Futures prices rebounded after stabilizing China's housing market. After homebuyers threatened not to pay their mortgages on
unfinished apartments, authorities have agreed to assist local governments in
completing property development projects. One
source stated that the Chinese economy is now dependent on infrastructure and
real property for its performance....