PP spot consolidates with reducing stocks superfine polyester fiber

PP granule spot
PP granule market is in narrow consolidation in both futures and spot market. Stocks have been reduced quickly recently as PP price slumps heavily. Suppliers are temporarily free of pressure. The spot-futures basis between commodity-grade homo PP raffia and Jan futures contract is around 340yuan/mt.

In East China, mainstream traders offer for homo PP raffia at 8,950-9,000yuan/mt, and offers for coal-based low-MFR co PP at 9,200-9,300yuan/mt.
In North China, offers for coal-based homo PP raffia grade are at 8,800-8,900yuan/mt, and offers for low-MFR co PP are at 9,100-9,200yuan/mt.

PP powder
PP power market rebounds slightly on Thursday, as offers are mostly 50yuan/mt higher. PP futures contract maintains range-bound and propylene market ceases decline. PP powder is supported. Offers are at 8,350-8,450yuan/mt in Shandong province, and 8,550-8,750yuan/mt in East China, by cash, ex-works.