POLYMERS - Polypropylene

PP prices have risen to US$1370/MT in Asia in the week of November 5, 2007 on a ten dollar hike by major suppliers. Rising feedstock costs are exerting pressures on producers, leading to reduced supplies and rising prices. PP market sentiments have strengthened marginally on account of reduced supply from Asian producers as well as delay in arrival of deep sea cargoes till end of December. PP supplies are estimated to remain firm, leading to higher prices till the end of December.