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