PP Inventory Accumulation on Soft Procurement at Downstream Processors
According to SCI, China’s PP inventory on Aug 20, 2021 increased by 0.67% from Aug 13, 2021. Therein, the PP inventory at major PP producers and sample trading companies saw an increase, while that at sample ports remained flat.
Remarks: Total PP inventory involves PP inventory at major producers, PP inventory at sample ports and PP inventory at sample trading companies.
On August 20, 2021, PP inventory at major producers rose 3.18% W-O-W. Inventory at major producers climbed W-O-W due to the soft trading. The output of PP was slashed by 5.52% to 524.5kt. The downstream processors kept a wait-and-see stance and maintained basic purchases, leading to slow inventory consumption.
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