Price List: Zhongjing maintains export PP offers stable for fourth straight week

Zhongjing Petrochemical decided on the continuation of stable export offers from the previous week, with homo-PP and BOPP at $960/ton and $965/ton FOB China terms respectively. The unchanged price point has held for four consecutive weeks now despite the highly volatile external environment.

The latest offers from the producer and changes from the previous offers are as follows:

A company representative commented, “After assessing the market sentiment in China, we are in no hurry to bring down our offers. We are aware of the recent depreciation of currencies, making imports to different regions more challenging. However, any adjustments will be made, if need be, after a thorough and proper assessment after the ChinaPlas fair.”

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.