19 Mar 2024
Over the past weeks, market participants have been attempting to gauge the possible market direction, weighing the strong ethylene costs against the sluggish demand conditions regionwide.
Comparing the demand for PP and PE, Chinese customers are more interested in adding extra PP cargo to their existing stocks than PE.
With strong buying interest from customers, Chinese suppliers are in no mood to negotiate, still, transactions are satisfactory, which signals the market acceptance.
Overall concluded deals on the Shenhua Auction Platform saw excellent results with PP and PE achieving deals above 90%, much stronger than on Monday
18 Mar 2024
Until this moment, Asian market participants are divided on the possible market direction given the intense tug-of-war between strong costs and weak demand.
Buyers are puzzled over the latest price list considering the sluggish demand conditions following the abolishment of the import quota mandate.
In an interesting development, a major trading house in Indonesia decided to slash spot HDPE film and homo-PP yarn, shrugging off the stabilising trend spearheaded by a domestic producer.
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