The Shenhua auction platform experienced a notably tepid market response this morning for both PP and PE, marking a decline in activity compared to the previous session. Even with a modest discount of CNY 50/ton ($7), buyer engagement was lackluster, reflecting broader market hesitancy.
The stable LDPE offers were largely anticipated, given the rebound in China following the National Day holiday. Chinese buyers, concerned about potential supply disruptions from Iran, have accelerated their purchases ahead of the peak agricultural film season.