The US Polypropylene (PP) market stayed bearish in early May xxxx, as weak buying interest and sluggish demand from downstream sectors weighed on sentiment. Prices continued to slide, driven by improved supply conditions following the start-up of Formosa Plastics’ new xxx million lb/year capacity at Point Comfort, Texas in late April. This addition worsened an already oversupplied market, adding pressure to inventory levels further driving down PP prices across the US market
Downstream demand for PP remained subdued across key industries, construction, automotive, and packaging—further amplified by falling feedstock Propylene prices. Although the Polymer Grade Propylene recovered by around x.xx in May, it was followed by an xxx drop in April. A brief disruption at Enterprise Products’ PDH unit in Mont Belvieu on May x, caused by a boiler shutdown, had minimal impact. The unit, with a xxx,xxx metric tons/year Propylene...
