Polymer inventories in China continue to fall
Polymer inventories in China are continuing to fall, signalling convertors' return to resin buying after a months-long coronavirus-related lockdown in the country.
Inventories held by key state-controlled producers Sinopec and PetroChina were at 890,000t today, down by 100,000t from a week earlier, marking a fourth consecutive week of decline.
But stocks remain high compared with typical levels of around 700,000t.
Linear low-density polyethylene film prices in China rose by $25/t from last week to $720/t today, while high-density polyethylene film prices increased by $45/t to $755/t over the same period, according to Argus data.
By Muhamad Fadhil and China staff
source: Argus Media
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