Views: 6 Author: Site Editor Publish Time: 2019-03-04 Origin: Site
PP granule spot
PP spot lingers in weak consolidation. Futures contract has no power to rebound and spot offers slide down. Trading is negotiated. The spot-futures basis between commodity-grade homo PP raffia and May futures contract is slightly below 0yuan/mt.
In East China, mainstream traders offer for homo PP raffia at 8,660-8,700yuan/mt, and offers for coal-based low-MFR co PP at 9,250-9,300yuan/mt.
In North China, offers for homo PP raffia grade are at 8,600-8,700yaun/mt and coal-based ones at 8,800-8,850yuan/mt, and offers for low-MFR co PP are at 9,250-9,550yuan/mt.
PP power market is mixed. The weak futures performance crosses market while some powder plants still raise offers to balance sheet. Downstream restocks for rigid demand. Offers are at 8,250-8,400yuan/mt in Shandong province, and 8,450-8,700yuan/mt in East China, by cash, ex-works.