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Asian Viewpoints

Impact on PP market amid spread of COVID-19 infections in China

 

In China, the number of people infected with the COVID-19 has been increasing since December 2020. Under the circumstances, market players expected demand for polypropylene (PP) for medical use such as masks to increase. But textile inventories for medical use were high since PP makers continued to keep high operational rates at their facilities.

 

On the other hand, a number of manufacturers of derivatives products have already entered the lunar New Year holiday, and there was no sense of tightness in supply and demand. In addition, manufacturers were showing an aggressive sales stance to reduce inventories before the Chinese New Year holidays, which has led to a recent downward trend in the PP market. Under the situations, buying to replenish inventories could be detected amid a sense that prices would decline in the future, but the supply and demand fundamentals were not as tight as before, or the time when the COVID-19 began to spread last year.

 

Shanghai : Energy Desk  Xue-Mei Jin   +81-3-3552-2411Copyright © RIM Intelligence Co. ALL RIGHTS RESERVED.