Asian Price Drop: As weaker demand continues- China's market monitors the COVID-19 situation.- Southeast Asia prices are being pushed down by
low importsThe prices in the Chinese and Southeast Asian
polypropylene markets declined. East China's prompt domestic cargoes fell Yuan
200-250/mt during the week, closing at Yuan 8,100-8,200/mt. Despite
falling to 19-month lows the week before, prices for Chinese and Southeast
Asian PP continued to fall. This was despite crude losses leading to a weaker
Asian PP market while medium-term demand sentiment was weak. At 4:30 pm Singapore time, the ICE Brent September crude futures contract was trading at
$100.50-120.50/b, down from $104.62-120.50/b. China's stop-start recovery
has been further hampered by new coronavirus-related restrictions in several
cities, including mass testing in Shanghai. One source based in China said
that the market isn't trading at...