Local PP prices rised by supplies in China

After a month-long stable to softer trend, the sentiment in China’s local PP market has gained strength since last week mainly due to supplies.
Local prices for homo-PP raffia have increased by more than CNY100/ton ($15/ton) so far, mostly erasing the losses recorded throughout August. 

Several factors

1. Improve buying sentiment ahead of the week-long National Day holiday to take place in early October.

2. Due to tight supplies as well as stronger futures prices. Local PP supplies are currently tight as some producers are having turnarounds at their plants.