PP Market Morning Express (Dec 21, 2010)

Crude oil prices rebound, which supports PP powder market somehow. Zibo Yuanshun and Dongming Refinery raise ex-work prices slight and the mainstream price in Shandong is at 11150-11450yuan/mt.

Today, Yan’an Refinery reduces prices of T30S by 150yuan/mt to 11500yuan/mt while PetroChina East, PetroChina North and Sinopec Shanghai quote stably at 12100yuan/mt. In the morning,　the mainstream price keeps stable while some low prices move up somehow. The prevailing price of T30S in East China is at 12200-12350yuan/mt and higher at 12700yuan/mt.

$1=CNY6.66

source:CCFGroup.com