China rPP Prices Rise 4.72% WoW Amid Tight Spot Supply

China's recycled polypropylene market shifted from a soft February to a firmer tone in early March, driven by sentiment-led buying and tighter spot availability in Shenzhen yards. New national standards for recycled plastics, effective early February, added uncertainty as participants reassessed offers and quality requirements. Downstream offtake for injection moulding grade rPP remained broadly steady, with momentum increasingly dependent on trader positioning and spot availability rather than industrial demand. The market moved from cautious to selectively bullish as regulatory implications were weighed against stable feedstock conditions. In processing, recyclers maintained steady offtake while traders pressed for higher levels. The R-PP-Injection Moulding Spot Ex-Shenzhen benchmark eased from the prior month, indicating a softer backdrop despite near-term price movement. Domestic recyclers account for roughly 92% of local consumption, with imports around 8%, supporting local sellers to test firmer offers. Looking ahead, sentiment and regulatory impact may keep a stable to modestly firmer near-term outlook; monitor weekly spot flows and seller behavior.