Lacking in domestic production, Pakistan usually pays the highest price in Asia for polypropylene. But the country is currently witnessing unique PP pricing- where prices are being quoted at US$1260/MT CFR South Asia; at par with those in Southeast Asia.
The major cause for abundant cargoes finding their way into Pakistan could be lackluster buying in China. Depleting consumer spending in USA has affected exports and led to enlarged inventories of finished goods with processors. The banking crisis seems to have given way to recessionary concerns, keeping long term outlook negative. In view of the continuing global economic turbulence and volatile crude values, PP prices are not expected to rebound in the short term.
16-Oct-08 
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