<article><p class="lead">Polypropylene (PP) raffia prices in China have slumped to a four-year low as demand continues to decline amid the coronavirus pandemic.</p><p>PP raffia prices in China on a midpoint basis were at $815/t cfr, the lowest level since 24 February 2016, according to <i>Argus </i>data.</p><p>Feedstock propylene prices in Asia have been under pressure in recent weeks because of weak derivative demand.</p><p>Propylene prices in northeast Asia were at $670-720/t cfr on 18 March, down by $30/t from the previous week. </p><p>The coronavirus situation is improving in China, but several converters have still not started up at levels before the outbreak.</p><p>Polymer inventories at state-controlled Sinopec and PetroChina edged up to 1.285mn t on 18 March from 1.27mn t a week earlier on limited buying activity.</p><p class="bylines">By Muhamad Fadhil</p></article>
