26 May 2022
The Chinese authorities on Wednesday, 25 May said the country will bring the economic growth back on track using ‘targeted, forceful, and effective’ measures.
25 May 2022
For another trading session, the number of deals concluded for homo-PP on the Shenhua auction platform is much better than LLDPE.
Apparently, the recent downtrend in the Vietnamese homo-PP market is driven primarily by the hyper-competition among South Korean suppliers while Chinese sellers decided to withdraw to the sideline, refusing to sell at losses.
25 May 2022 PPH Raf
Demand in the woven bag sector remains weak. Converters are in no mood to build raw materials stocks to avoid a potentially cashflow tightness amid the cloudy economic outlook. Buy ideas for South Korean cargoes are prevalently at $1200/ton CIF Indonesia.
Market sources are not surprised by the sharp reduction in the PP and PE stocks as both Sinopec and CNPC have been pushing the allocation to the distribution market ahead of the month end closing.
24 May 2022
Chinese bidders continue to show healthy buying interest toward the PP parcels even at slightly higher price levels compared to the previous session.
Buyers continue to proceed with caution, partly due to lacking confidence in the near-term outlook, which is reinforced by the traditional weak demand season in May and June.
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