05 Mar 2024
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.
04 Mar 2024
Saudi Aramco has opened propane contract prices to Asia for March loading at unchanged levels compared to the previous month despite the supply tightness conditions.
The representative of the company, however, clarify that these are relatively minor pricing adjustments as they are not facing considerable sales pressure.
Market participants prefer to wait on the sidelines throughout the first half of the trading day amid the softness on the futures market.
Meanwhile, sluggish demand continues to weigh on the Northeast Asian ethylene market. Even though an increasing number of overseas sellers has indicated the intention to lift spot offers to this region
The overall domestic buying activity is weak and market players have reportedly taken a cautious approach while they wait for the outcome of the Two Sessions meeting, which is scheduled for tomorrow, 05 March 2024.
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