Trading sentiment on the Shenhua auction platform dimmed further as March draws near to an end. Market participants especially focused on the still high auction volume at this time of month, which signal the possibility of rising sales pressure in the coming days.
At the start of the week, a prominent domestic producer in Indonesia slashed the PP and PE price list by as much as $30/ton compared to late last week amid increasing downward pressure from more attractive cargoes in the distribution market.