Daily Market Wrap – SEA – 23 September 2022

Toward the weekend, Vietnamese customers abruptly return to the market to make replenishment for homo-PP, though prices remained the biggest concern. In fact, most transactions observed are below the $1050/ton threshold, based on CIF term.

23 Sep 2022

Daily Market Wrap – China – 23 September 2022

Regardless of the dwindling Dalian Commodity Exchange, major domestic producers decided to lift spot PP and PE offers by CNY50/ton from the previous session in order to reflect the depreciation of the Chinese Yuan. Purchasing activities fell sharply from the previous day, highlighting the resistance building in the local market.

19 Sep 2022

Daily Market Wrap – SEA – 19 September 2022

On the other hand, many customers are planning to skip purchasing HDPE film cargoes this round. According to Vietnamese buyers, Long Son Petrochemical has started sending on-spec HDPE film cargoes to several manufacturers for testing,

19 Sep 2022

Daily Market Wrap – China – 19 September 2022

Buyers are not active in securing additional cargo even though sellers were really looking forward to some pre-holiday replenishment activities within this week. Two key trading houses in the country reported having sold about 17,000 tons of both PP and PE, which is merely half of the usual quantity.

14 Sep 2022

Daily Market Wrap – China – 14 September 2022

Initial responses from the market are weak. Evidently, Middle Eastern LDPE film cargoes are under a lot of pressure amid the presence of ample and competitive USA materials.

12 Sep 2022

Daily Market Wrap – SEA – 12 September 2022

In Vietnam, local traders enthusiastically maintain a firm stance on spot offers. Sellers here are mostly carrying many higher-cost cargoes from previous purchases, hence, putting all the efforts to recoup the losses.

06 Sep 2022

Daily Market Wrap – China – 6 September 2022

Trading activities in the domestic spot market remain surprisingly strong on the second trading day of the week – a development market participants attributed to the bullish demand outlook expectations after the government said it will accelerate the rollout of stimulus packages.

05 Sep 2022

Daily Market Wrap – SEA – 5 September 2022

There are limited new import offers on the first trading day of the week, however, given the reduced operating rates among Asian plants, it is likely that the market would track a stable trend to maintain the balance with the weak demand.

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