PP Market Morning Express (Dec 8, 2010)

Influenced by weak crude oil and plastic futures, the ex-work prices of PP powder decline by 50-100yuan/mt and the mainstream price in Shandong is at 11400-11500yuan/mt with decreasing enquires.

Today PetroChina North reduces ex-work prices of PP granule by 300yuan/mt. Qilu Petrichemical, Ji'nan Refinery and Tianjin United Petrochemical quote T30S at 12050yuan/mt and Z30S at 12250yuan/mt. In the morning, the market prices of PP granule mainly keep stable and the mainstream price of T30S in East China is at 12400-12600yuan/mt while in Yuyao at 12500yuan/mt.

$=CNY6.66

source:CCFGroup.com