China PP & PP Fiber Market Daily(15 Dec 2010)

Crude oil and plastic futures kept downtrend, which influenced PP market. Suppliers with unsteady sentiment focused on selling goods, but transactions were rare. The ex-work prices of PP powder kept stable with dull market atmosphere and modest transactions. The mainstream price in Shandong was at 11250-11450yuan/mt and in Yuyao at 11700yuan/mt.

In North China, offers dropped and the mainstream price of T30S was at 12000-12200yuan/mt. Suppliers affected by crude oil and plastic futures reduced offers slightly and kept active to sell goods, but downstream showed little interest to take offers.

In East China, the market tended to be stable and the prevailing price of T30S was at 12250-12500yuan/mt. Influenced by outer atmosphere, the market kept weak and downstream customers held wait-and-see stances.

In South China, prices kept stable in weakness and the mainstream price of T30S was at 12300-12450yuan/mt. Suppliers with bearish sentiment sold goods actively and transactions were slack.

Affected by bad weather, the market atmosphere in Datang PP elastic yarn market kept weak with nearly no transactions and suppliers still offered stable. PP filament yarn plants in Jiangsu and Zhejiang mainly kept stable offers and some reduced slightly.

$1=CNY6.66