Asia PP Daily: China's export floor rises above $1,200 as port congestion chokes off regional import market

A firmer floor in Chinese export offers, met a wall of buyer resistance as crude volatility and US-Iran tensions raised fears of a quick correction, while worsening port congestion added up to 15 days of delay across Asia and pushed Indonesian converters out of the import market entirely, even as Malaysia's demand improved on the back of the same crude-driven rally.