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Insight | Time: Dec 7 2021 5:48PM
PP market under the influence of Ningbo pandemic
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Ningbo in East China's Zhejiang province on Monday reported three COVID-19 cases, said local health authorities. The three cases were from the same family in Zhenhai district in the east of Ningbo, and all the three have been sent to a designated hospital for treatments, according to China daily. Five new cases of COVID-19 are reported by local authorities on Tuesday in Ningbo, Zhejiang province. Ningbo initiated a level 1 emergency response this morning. Zhenhai District implemented temporary lockdown measures and the entire district organized large-scale nucleic acid testing.


Plant operation:

Region Company Capacity 锛圞TA锛 Operation Addresses Influence
East China Sinopec Zhenhai (ZRCC) 500 Normal operation Zhenhai District, Ningbo City Logistics
Ningbo Fund 400 shut on Dec 5 for 45days Zhenhai District, Ningbo City
FCFC Ningbo 450 Normal operation Beilun District, Ningbo City
Ningbo Fortune 400 Normal operation Beilun District, Ningbo City
Oriental Energy II  800 Normal operation Beilun District, Ningbo City
Total 2550

Nationwide, Ningbo, as a prefecture-level city under the jurisdiction of Zhejiang Province, the distribution of its PP production capacity is relatively concentrated. Ningbo鈥檚 PP production capacity reaches 2.55 million tons, accounting for 65% of Zhejiang Province, 40% of East China and about 8% of China.


From the perspective of administrative area, there are 2 plants located in Zhenhai District, namely Sinopec Zhenhai (ZRCC) (500kt/year) and Ningbo Fund (400kt/year), while other plants are all located in Beilun District, which is close to Zhenhai District.


Among them, Ningbo Fund has shut its 400kt/year PP plant on Dec 5 for maintenance, and has not been affected by the epidemic. Sinopec Zhenhai (ZRCC) operates normally, but the logistics transportation has been significantly affected, mainly affecting the delivery of plants and terminals. Market participators are suggested to waiting for further clarification of relevant policies.


CCFGroup will continue to follow up on the production and logistics of the plants in Zhenhai, as well as whether the scope of epidemic prevention and related measures will be extended to the whole city or even the whole province.

[RISK DISCLAIMER] All opinions, news, analysis, prices or other information contained on this report is provided by analyst of Zhejiang Huarui Information Consulting Co., Ltd (CCFGroup) as general market commentary and does not constitute investment advice. CCFGroup will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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