29 May 2023
Sources said that the reductions in PP prices are very much expected considering the fact that import offers from non-dutiable origins have already breached far below the $1000/ton threshold since the previous week.
As expected, local suppliers immediately lift spot PP and PE prices to reflect the rising Dalian Commodity Exchange, however, face stiff market resistance.
Compared to cargoes traded in the spot market and the Dalian Commodity Exchange, coal-based parcels on the Shenhua auction platform are way more attractive, which once again explains the healthy number of deals concluded.
26 May 2023
Following the price revision, offers to India are now on the same par with Southeast Asia, which is considered highly unusual taking into account the shipping cost differences.
25 May 2023
Responses from the market are mediocre. An increasing number of Vietnamese buyers expect the downtrend to persist in the coming weeks with buying ideas emerging at $950/ton for LLDPE film
With the futures market showing signs of recovery from ten consecutive sessions of sluggish trading, Chinese buyers are more confident in off taking some PP and PE cargoes
24 May 2023
With LLDPE film being traded elsewhere at three digits, the lack of buying interest in Malaysia is very much understandable.
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