Commodities 2023: Propylene, PP faces global supply overhang amid uncertain demand

Polypropylene is expected to welcome fresh additional supplies in 2023, which would contribute to rising price competitiveness between regions, as producers vie for global market share. Upstream propylene will likely be bogged down by lackluster and weak downstream margins, further highlighting the theme of feedstock cost advantages amid the current high oil price scenario. China braces for a supply glut…