- A global trading house revealed to SSESSMENTS.COM that a United Arab Emirates producer has announced a July shipment offers to China market. According to the trader, the producer initiated a price increase of $90/ton for PP Homo Raffia, available in the market at $920/ton. Similarly, producer’s offers for PP Block Copolymer surfaced in the market between $940-960/ton, or at $100/ton higher as compared the same period. The trader opined that the producer is currently facing sales pressure, which forced to narrow the price gap between PP Copolymer and Homopolymer grades. Likewise, a Saudi producer is also offering PP Block Copolymer cargoes to China at a quite attractive level due to inventory pressure, available at $930/ton, or only $10/ton higher than its offers for PP Homo Raffia. All offers are on LC at sight, CIF China Main Port basis.
- On plant news, a source from Fujian Refining & Petrochemical Company Limited (FREP) shared with SSESSMENTS.COM on the latest updates on the turnaround maintenance at the company’s PP plant located in Fujian Province, China. As informed, the producer has taken its old polypropylene (PP) unit off-stream on July 1 for scheduled maintenance work. The plant with a capacity of 120,000 tons/year is slated to remain off-line for 10 days.
