Following a modest rebound on the Dalian Commodity Exchange, Shenhua decided to maintain auction prices for both PP and PE cargoes unchanged from the previous session. Market sentiment cautiously improved after the government made fresh commitments to stimulate the domestic economy.
Meanwhile, mounting competition from new domestic PP production facilities has begun to impact both local and export markets. Shandong Yulong Petrochemical has reportedly offered its palletised homo-PP yarn to Southeast Asia
Despite price adjustments, buyers maintained a cautious, hand-to-mouth purchasing approach. While LLDPE transaction volumes appeared to rise by 33%, a closer look revealed that allocations had been cut by 32%, leaving actual buying activity largely unchanged from the previous day.
While the rollover aligns with the stable international pricing approach adopted by a key Taiwanese producer for March, Indonesian buyers have voiced strong dissatisfaction. The combination of a persistently sluggish end-product demand and the availability of more competitively priced Chinese cargoes