PP Market Morning Express (Dec 10, 2010)

Although crude oil prices rises slightlt, PP powder plants with weak sentiment continue to reduce offers. The mainstream price in Shandong is at 11300-11550yuan/mt and transactions are hard to be done.

PetroChina North reduces ex-work prices of PP granule by 300yuan/mt and quotes F401 at 12050yuan/mt and T30S at 12100yuan/mt. Zhenhai Refinery and Jiujiang Petrochemical offer stably at 12100yuan/mt. In the morning, the market tends to be weak and suppliers reduce offers slightly. The mainstream price of T30S in East China is at 12200-12450yuan/mt while price in Yuyao declines to 12450yuan/mt.

$1=CNY6.66

source:CCFGroup.com