As reported earlier, large-scale buyers in the beverage sector have procured tens of thousands of tons of PET bottle resin during the downswing in December for February delivery. With suppliers now focusing on fulfilling these commitments, immediate sales pressure has subsided.
Overseas suppliers have begun capitalizing on the bullish momentum in the local market to strengthen import offers to China. Market participants are closely assessing China's response to determine potential ripple effects in other markets.
Trading activity on the Shenhua Auction Platform remained stable despite persistent weakness in the futures market. The marginal increase of CNY 40/ton in LLDPE auction prices had minimal impact on overall transaction performance compared to the previous session.
While market response to the latest HDPE and LDPE offers has been tepid, the sharp cut in LLDPE supply has triggered a degree of panic buying. Given the maker’s position as Vietnam’s largest LLDPE supplier, the severe reduction in volume