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Shandong Yulong’s final auction for July ended with notably weak deal activity, as only limited volumes were concluded, primarily for essential needs. The outcome underscored persistently subdued sentiment across both the futures and spot markets during the morning session.

Despite a reduction in offered volumes—consistent with typical month-end adjustments—buyer participation remained muted. Ongoing uncertainty surrounding short-term demand and pricing direction kept most market players on the sidelines. 

“Auction prices were largely flat compared to Tuesday,” a local market participant observed. “However, the softer futures market this morning dampened buying interest. We’re not optimistic about early August either, so we’ve opted to wait.”

The absence of robust downstream enquiries and lack of clear demand signals led many participants to refrain from purchases. The underwhelming result further reinforces expectations that market sentiment will likely remain fragile in the near term, with buyers adopting a cautious stance until stronger signs of recovery emerge.

While some players are hopeful for a more constructive tone in August, prevailing uncertainty continues to temper market engagement.

Written by: Kat Yun Yun

Edited by: Aiman Haikal

Country
China