China PP & PP Fiber Market Daily(20 Jan 2011)

Although crude oil prices fluctuated at high levels recently, PP market was influenced little and continued to keep consolidating in weakness. With Spring Festival Holidays coming, some downstream plants began to have holidays and reduced purchasing while suppliers focused on selling goods. But transactions were rarely concluded due to the price gap. The ex-work prices of PP powder mainly kept stable and the mainstream price in East China was at around 11750yuan/mt, in Shandong at 11300-11450yuan/mt.

In North China, offers mainly kept stable and the prevailing price of T30S was at 11900-12150yuan/mt. Suppliers were active to sell cargos, but downstream demand presented slack and transactions were concluded in discussion.

In East China, quotations were steady and the mainstream price of T30S was at 12300-12450yuan/mt. The market was affected obviously by the heavy snow and the market atmosphere presented weak. Suppliers with the support of feedstock prices kept stable offers while downstream plants enquired somehow but purchased few.

In South China, the market tended to be stable with the prevailing price of T30S at 12100-12450yuan/mt. Although suppliers focused on selling cargos, rare transactions were concluded.

Today, the trading atmosphere of PP fiber presented weak. Transactions were rare in Datang market.

$1=CNY6.59