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[FREE] Price List: China’s Zhongjing further down-adjusted export offers[FREE] Price List: China’s Zhongjing further down-adjusted export offers |
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Zhongjing Petrochemical has down-adjusted export offers for homo-PP cargoes for the second time this week, totalling the reductions to $25/ton from the previous week under the pressure of the sluggish demand overseas.
The latest offers from the producer and changes from the previous offers are as follows:
|
Grade |
Price List on 28Dec. 21 |
Changes |
Term |
|
Homo-PP yarn |
$1190 |
-$10 |
FOB China, LC AS/TT |
|
Homo-PP injection |
$1200 |
-$10 |
FOB China, LC AS/TT |
|
BOPP |
$1190 |
-$10 |
FOB China, LC AS/TT |
|
PP fiber |
$1210 |
-$15 |
FOB China, LC AS/TT |
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*Loading port: Jiangyin Port, Fujian, China *LSD: 15 February 2022 |
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Buyers across Southeast Asia remain indifferent about the new offers citing the more competitive cargoes from South Korean suppliers. It appears that Zhongjing might need to wait for the trading sentiment in this region to pick up, or further discounts must be made available to stimulate the demand.
In the meantime, the producer has achieved the annual sales target, hence prefer to hold a firm stance on the available cargoes at the moment.
Background:
Fujian Zhongjing Petrochemical is a subsidiary of China Soft Packaging Group Holdings Limited – a leading BOPP packaging products manufacturer in China. The company ventured into the upstream sector by building its first PP plant in 2012 and has been actively planning to expand the capacity since then.
Existing plants include two PP lines with a nameplate capacity of 1 million tons/year and a 750,000 tons/year propane dehydrogenation (PDH) unit based in Fujian, China.
In 2018, the company signed a contract to use LyondellBasell’s 5th Generation Spheripol technology to build a new PP line with an estimated annual output of 1.2 million tons/year. The new plant is scheduled to come online between late 2022 to early 2023.
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Country
China
