Spot prices of polypropylene in China rose to the highest in Asia, which encourages suppliers to redirect the available volumes of the Chinese market, according to ICIS, citing sources in the market.

Some deals were signed in China on USD20-30 per tonne higher than the current prices in Asia. While taxable PP taxes in China are usually sold below USD20-30 per ton prices in Southeast Asia.

On prices in Southeast Asia last week remained at the previous week USD1030-1040 per ton, CFR Southeast Asia due to weak demand. But in the middle of last week’s bullish sentiment in the key Chinese market have forced suppliers to take advantage of the current situation and point loads to China, where the transaction at zaklyuchalsi USD1060-1070 level per tonne, CFR China.

At the same time, market participants do not expect that the rise in prices will be stable, given the real low demand.

According to the price review ICIS-MRC, in Russia, buying activity in the market is low, but the demand for polypropylene is stable by the processors. Seriously reduced demand for PP in the construction segment, but this factor is not putting pressure on prices. PP proposal to adequate market, despite the reduction in the volume of imports and exports. Some manufacturers, on the contrary, due to the decline in imports is already virtually sold out of its December volume propylene copolymers.