PP Market Express (Sep 3, 2010)

Today, market mood on PP granule market stabilize on price-lifting by some producers. Northeast PetroChina companies universally lift offer for PP granule by 150yuan/mt. Offers for T30S cited by PetroChina Fushun, PetroChina Daqing and Dalian Petrochemistry Industry are pegged at 10650yuan/mt while that for Z30S at 10650-10750yuan/mt. In East China market like Yuyao, mainstream offer for 10750-10900yuan/mt is at 10750-10900yuan/mt. Inquiries increase on local market.

Continuously hiking crude oil gives PP powder producers confidence. Therefore, today, offer is revised up by 50-100yuan/mt in most cases. In Shandong, mainstream offer is at 10350-10550yuan/mt while in Jiangsu and Zhejiang higher.

$1=CNY6.80