PP Inventory Dropped on Bettered Deals
1. China Total PP Inventory Increased
According to SCI, China’s PP inventory on July 30, 2021 increased by 0.67% from July 23, 2021. Therein, the PP inventory at major PP producers and sample ports increased, while that tat sample trading companies declined.
Remarks: Total PP inventory involves PP inventory at major producers (Sinopec and PetroChina), PP inventory at sample ports and PP inventory at sample trading companies.
2. China PP Inventory at Sinopec and PetroChina Increased
On June 4, 2021, PP inventory at Sinopec and PetroChina rose by 2.00% W-O-W. Inventory at major producers inched up W-O-W, as its sales were affected by end-month settlement and the weekly output of PP increased by 2.86% W-O-W to 549.2kt. Besides, downstream users continued to buy on a hand-to-mouth basis to cover the rigid demand.
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