Slow movement of PE, PP in China on importers’ reluctance to accept price hikes

Buyers from China resurfaced to buy cargoes three weeks ago when crude prices spiked past US$70/bbl as per ICIS. Demand for imports of polyethylene (PE) and polypropylene (PP) from China is beginning to shrink over the past fortnight on buyers’ resistance to price hikes by sellers in line with rising crude and feedstock values.

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