PP granule spot extends to be strong

PP granule spot
PP granule spot extends to be strong. PP futures contract has rebounded continuously and uplifts market mentality. The spot-futures basis between commodity-grade homo PP raffia and Sep futures contract is around 140yuan/mt.

In East China, mainstream traders offer for coal-based homo PP raffia at 8,450-8,500yuan/mt, and offers for coal-based low-MFR co PP at 8,750-8,800yuan/mt.
In North China, offers for coal-based homo PP raffia grade are at 8,400-8,500yuan/mt, and offers for low-MFR co PP are at 8,750-8,950yuan/mt.

PP powder
PP power market inches up slightly. High propylene cost has backed up PP powder offers firmly. Part of plants still raise their offers. Downstream purchases at need-to basis. Offers are at 8,100-8,150yuan/mt in Shandong province, and 8,150-8,350yuan/mt in East China, by cash, ex-works.