Asian Price Point: Market optimism drives up Chinese
domestic prices. Other regions follow■ Economic recovery in China■ The
overall demand remains low





The Asian polypropylene market saw prices
rise slightly on June 8, thanks to buoyant sentiment stemming in part from
recovering China. East China's prompt domestic cargoes rose by Yuan 75-100/mt
over the past week, to Yuan 8,900/mt. China's sentiment has risen due to the lifting of
restrictions in Shanghai, and Beijing and an announcement by authorities
regarding a broad-reaching stimulus package for economic recovery. Market sources said that sentiment has not yet resulted in
increased spot buying. One source based in
China said that "Though futures prices have risen, actual spot
fundamentals remain unchanged as market needs remain modest at this time." According to the source, China's June plant turnaround rate
was low, which...