Asia polypropylene recovers from 46 month low

As end-users stocked up following a rebound in feedstock naphtha prices and improving buying sentiment, polypropylene raffia CFR Far East Asia prices rose by US$20/mt Tuesday from a 46 month low hit Monday, Platts data showed. On Monday, the price had been assessed at US$950/mt, the lowest since the assessment began October 17, 2011. Looking further back with the now discontinued PP Homo CFR Far East Asia weekly averages as reference, polypropylene price in China had not been as low since March 25, 2009, when PP Homo CFR Far East Asia weekly averages was assessed at US$915/mt.
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