Shandong Yulong Auction: PP cargoes left unsold in first session back post-holiday
Weak sentiment dominated the session, leaving all offered volumes unsold.
|
Product |
Auction Volume |
Deal Volume |
Auction Prices |
Deal Prices |
Deal % |
||
|
CNY/ton |
USD/ton |
CNY/ton |
USD/ton |
||||
|
Combined and reported by CommoPlast |
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|
PPH Raf (FD) |
2100 |
0 |
6700 |
$866 |
- |
- |
0.0% |
|
PPH Film (FD) |
600 |
0 |
6810 |
$880 |
- |
- |
0.0% |
|
* Auction and Deal volumes are in tonnage * All USD equivalent prices only exclude the 13% value-added tax (VAT). They have not taken into account other costs that might incur in the selling process, i.e. import duty, customs clearances. |
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Shandong Yulong’s latest auction focused exclusively on PP cargoes, following a pause on Tuesday as the market returned from the holiday break. Weak sentiment dominated the session, leaving all offered volumes unsold.
Traders reported a subdued buying climate across the region, with downstream converters only gradually resuming operations. According to a local source, the producer also explored PE sales through private channels with negotiable terms, but interest remained muted.
Spot market competition remains intense, with numerous sellers adopting flexible pricing and negotiation strategies. This environment constrained Shandong Yulong’s ability to conclude deals. Market participants said that near-term direction will largely depend on developments in downstream demand next week, while futures trends will also play a key role, keeping the market in a cautious posture.
Written by: Kat Yun Yun
Edited by: Farid Muzaffar