01 Dec 2023
On the other hand, market participants adopt a cautious stance to assess the latest manufacturing data and OPEC+ oil production decision instead of securing more cargoes.
The Shenhua auction platform kickstarted the week on a strong note as buyers appeared more enthusiastic to procure more cargo leading to a healthy number of deals concluded.
30 Nov 2023
The prices act as an indicator for other Middle East liquefied petroleum gas (LPG) producers to gauge the Asian market acceptance.
The domestic spot market experienced upward adjustments, with producers indicating low inventory pressure, staying below the 600,000-ton threshold by month-end.
Shenhua expectedly cut back on the auction volumes on the final trading day of November, which coupled with reductions in deal prices, led to satisfactory sales results.
29 Nov 2023
PVC (A) k67-68
According to market sources, buyers here managed to ‘catch the bottom’ and now prefer to wait on the sideline amid the uncertain demand outlook.
29 Nov 2023
However, confidence in the near-term outlook is tepid, with some expecting prices to potentially require further discounts to stimulate the next round of purchases.
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