Homo PP raffia production returns to normal

After May Day holiday, since the crude oil went up continuously, PP futures opened high and moved higher. Traders offered high, and homo PP raffia was offered at 7,700-7,800yuan/mt. However, traders showed modest buying interest in procuring the cargoes that price went up too high. PP futures dropped, and spot price moved lower accordingly. On May 8, mainstream traders offer for homo PP raffia at 7,550-7,600yuan/mt in East China. Overall, homo PP raffia is still expected to weaken in the short term.

1. Homo PP raffia production returns to normal gradually