12 Jun 2024
The three-digit price hikes were very much expected. In some parts of Southeast Asia, severe supply tightness has pushed LDPE film prices above the $1400/ton threshold
Discussing the growing resistance among local buyers, Chinese traders do not seem too concerned. The large location gaps between China and Southeast Asia keep export/re-export window opened
As expected, Chinese buyers returned to the market for replenishment following the CNY50/ton discounts on spot PP and PE cargoes but sticking to hand-to-mouth purchases.
Shenhua continued to achieve strong auction results for homo-PP and LLDPE given the fact that these coal-based parcels are about CNY50 – 100/ton below the domestic spot market.
11 Jun 2024
While the producer maintained that the sales pressure is very much manageable, sources said the softer price decision might have derived from peer pressure.
Inquiries are mediocre, several Chinese trading houses said, as buyers monitor closely the market development before making decisions.
Chinese bidders returned from the long weekend break to find auction prices for most of the grades unchanged from the previous week, which piqued some buying interest.
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