Daily Market Wrap – SEA – 25 March 2024

More Saudi Arabia producers started opening April shipment offers to Southeast Asia at slightly lower levels compared to March. The softer price decisions were difficult for producers amid the limited availability and rising upstream costs.

25 Mar 2024

Daily Market Wrap – China – 25 March 2024

In light of the softening Dalian Commodity Exchange and the weak buying appetite since the end of last week, sellers were willing to provide discounts and negotiations after observing buyers were apathetic to the offers.

25 Mar 2024

Daily Market Wrap – China – 22 March 2024

As reported earlier, arbitrage traders were highly active in the spot market to take advantage of the attractive price gaps with the Dalian Commodity Exchange and as these premiums narrowed, this group of buyers also withdrew to the sideline.

22 Mar 2024

Daily Market Wrap – China – 21 March 2024

In spite of the slowing trading activities, Chinese suppliers do not expect any major price adjustments ahead citing the absence of inventory pressure. In four trading days within this week, both Sinopec and CNPC have depleted 80,000 tons of combined stocks

20 Mar 2024

Daily Market Wrap – SEA – 19 March 2024

Nevertheless, there is no sign of panic buying. Players are well aware of the maintenance shutdown at several key plants within the region, including three in Vietnam and two in Malaysia

19 Mar 2024

Daily Market Wrap – China – 19 March 2024

Market sources expected the current firming trend to persist in the coming days, especially with the rising energy complex that fuels the bull run on the Dalian Commodity Exchange and creates an irresistible price gap

18 Mar 2024

Daily Market Wrap – SEA – 18 March 2024

Although the regional buyers have not shown strong interest in making replenishment, there is a growing expectation that the market might resume firming trend following weeks of stagnating.

18 Mar 2024

Daily Market Wrap – China – 18 March 2024

Despite the price hike, there were still a considerable number of clients placing orders due to growing expectations that market would remain on the firming track in days ahead.

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