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Raw materials & energy 30 Oct 2026

China PP raffia export offers top USD 1,400/ton FOB, highest since tracking began in 2021

China's homo-PP raffia export offers rose a further USD 40/ton this week, pushing the upper end of the FOB China range beyond USD 1,400/ton for the first time since tracking began in January 2021. The rally, driven by higher crude oil and feedstock costs and roughly 24% of China's PP capacity still offline, has lifted the weekly average about 40% since mid-July, even as overseas buyers grow reluctant to commit at current levels.

Why this mattersRecord Chinese PP raffia offers, about USD 120/ton above Middle Eastern material, weaken China's position as an alternative resin source for woven-bag and sack converters.

  • FOB China homo-PP raffia offers rose USD 40/ton week-on-week, crossing USD 1,400/ton FOB for the first time since January 2021
  • Weekly average FOB China price has climbed around 40% since mid-July 2026 to a record high
  • About 24% of China's PP capacity remains shut, keeping operating rates low, according to a Chinese trader
  • FOB China homo-PP raffia offers now trade at a USD 120/ton premium over CIF China Middle Eastern material
  • The China-Middle East price gap widened sharply after a March energy-driven surge, briefly turned negative in May-June, then widened again from July
  • International buyers are increasingly cautious about purchasing PP raffia at current record price levels
Sources credcosourcing.com
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Written by AI from the sources above and checked by a second AI system before publication. No human wrote or edited this story. How it is made.

Updates

  • 2026-11-02 · Edited before publication: 'Why this matters' claimed a worldwide pass-through to flexible and rigid converters. The source points instead to lost Chinese export competitiveness against Middle Eastern PP. Materiality 2 is consistent with the substrate-price rule.
  • 2026-11-02 · Edited before publication: Resin price story, rightly held at 2 under the substrate price rule. Headline changed to USD style and given back the 'since tracking began' qualifier. 'Why this matters' reworded: the USD 120/ton gap compares FOB China offers with Middle Eastern cargoes landed in China, not costs for importers abroad.