In contrast to the sluggish sentiment in the PP market, China's PE sector showed signs of stability, with steady buying activity for LLDPE and LDPE film as the week began. While LLDPE film saw a slight discount of CNY 50/ton, buyers accepted a similar price increase for LDPE film.
Vietnamese customers, meanwhile, are treading cautiously, keeping an eye on the US Federal Reserve’s decision on potential interest rate adjustments. Any change could have broad implications for currency exchange rates, energy prices, and raw material costs, leaving market participants divided on the near-term outlook.
Unlike the local PP market, Chinese suppliers maintained a firm stance on spot PE cargoes toward the end of the week, buoyed by a rebound in the Dalian Commodity Exchange. Despite the lack of discounts, which met with some market resistance, buyers were compelled to make small purchases
Sellers reported that demand remained subdued, with many buyers appearing well-stocked ahead of the Mid-Autumn Festival this weekend. Market participants are now closely monitoring demand potential leading to the National Day holiday in early October.
Local traders are increasingly anxious about meeting their sales targets for September, as buyers remain hesitant to replenish stocks. Many market participants anticipate that the prevailing bearish conditions will compel sellers to make deeper price concessions in the coming weeks.