06 Mar 2024
The Chinese LDPE film market has been steadily climbing higher since early 2024 stemming from the expectations that deep-sea cargoes from the US and Iran would be limited
Buyers who have been delaying purchases are refilling need-based cargoes, while others continue to monitor to see if better offers become available.
Thanks to the rebounded Dalian Commodity Exchange and Shenhua’s effort to lure customers back to the auction platform by cutting deal prices, the auction session concluded with concrete results.
05 Mar 2024
Although new offers are softer, traders are cautious in adjusting their prices as relevant authorities including the Ministry of Trade and the Ministry of Industry have not signed any official Circular pertaining to the decision.
The 2405 for May 2024 delivery contract on Dalian Commodity Exchange on 05 March 2024 settled as follows:
Undeniably, the combined stocks of Sinopec and CNPC linger above 900,000 tons at the time of this report. In normal circumstances, this would indicate the intense inventory pressure
Trading sentiment on the Shenhua auction platform continues to decline in the second session of the week with coal-based LLDPE film cargoes achieving just 30% of transactions from the available quantity.
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