Friday, August 22, 2008

Slowing Chinese demand triggers US$300 drop in Asian PP prices post-July

Record high Asian PP prices which surged past US$2000/MT in the first week of July, have witnessed a major drop of US$300 since then. Owing to transportation curbs in China during the Olympics, the PPP inventories are oversaturated thereby softening the week-on-week price by fifty dollars.

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