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Asian PP market declines because of weak demand

February 11/2020

MOSCOW (MRC) -- Asia's polypropylene (PP) market declined on the week in northeast and southeast Asia due to sluggish demand on the back of the coronavirus outbreak, reported S&P Global.

Chinese inventories rose to around 1.175 million mt amid the lack of downstream demand, market sources said.

More Chinese traders are looking for new export outlets to clear out cargoes at the port.

Demand for medical-use polymers, such as non-woven PP, was expected to increase due to the outbreak, market sources said.

As MRC wrote before, Zhejiang Shaoxing Sanyuan Petrochemical took off-stream one of its polypropylene (PP) plants in China last week because of logistical issues. Located in Zhejiang Province, this plant's annual production capacity is 300,000/mt yr.

Many downstream PP plants in China were heard to have reduced their operating rates or shut down as they were not able to transport their products to the customers due to the closure of major roads in eastern China due to coronavirus.

According to MRC's ScanPlast report, the estimated PP consumption in the Russian market was 1,260,400 tonnes in January-December 2019, up by 4% year on year. Supply of almost all grades of propylene polymers increased, except for statistical copolymers of propylene (PP random copolymers).
Author:Margaret Volkova
Tags:Asia, PP, PP random copolymer, Zhejiang Shaoxing Sanyuan Petrochemical, China, Russia.
Category:General News
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