26 Aug 2024
26 Aug 2024
On the pricing front, Shenhua managed to raise the auction price for homo-PP by CNY 40/ton, bolstered by a rebound in futures contracts on the Dalian Commodity Exchange. However, the auction price for LLDPE slipped by CNY 60/ton compared to the previous session, reflecting mixed sentiment in the market.
24 Aug 2024
This latest adjustment marks the fourth consecutive month of price cuts for PP and the fifth for HDPE, underscoring the sustained bearish sentiment in the market. Despite these aggressive reductions, market responses remain tepid.
24 Aug 2024
This decline is largely attributed to the strengthened Rupiah, which has appreciated by approximately 5% against the US dollar since July. Typically, a stronger Rupiah exerts downward pressure on commodity prices denominated in the local currency.
23 Aug 2024
23 Aug 2024
Chinese buyers, having largely fulfilled their purchasing needs earlier in the week, have now adopted a cautious approach. These buyers are refraining from further commitments while evaluating the near-term market outlook, reflecting broader uncertainties in the market.
22 Aug 2024 PET Bottle
The softening local market has overshadowed the depreciating US dollar, prompting Chinese PET bottle suppliers to trim export offers by $5-10/ton from the previous week. However, initial market responses have been tepid, with bids falling well below the listed prices.
