Chinese PET bottle market extends losses amid persistently weak demand and slumping upstream costs

22 Aug 2024 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.

22 Aug 2024

China Morning Snapshot – 22 August 2024

In a surprising move, Chinese producers lowered spot LLDPE film offers by CNY 50/ton, despite the rally on the Dalian Commodity Exchange. Market sources link this conservative pricing to subdued buying activity

22 Aug 2024

22 August 2024 - Shenhua's coal-based PP and PE Auction Results

Shenhua’s auction session concluded on a seemingly positive note today, as buyers showed interest in the reduced prices. However, this response appears more reactionary than indicative of genuine market strength.

21 Aug 2024

Taiwanese major postponed PVC price announcement amid uncertainty over India's BIS implementation

A major Taiwanese PVC producer has opted to postpone its September price announcement until next week, citing the Indian government’s pending decision on the enforcement of the Bureau of Indian Standards (BIS) mandate.

21 Aug 2024

Export PP offers from China remain firm amidst stabilized local market and weaker US dollar

In the past week, demand for prompt delivery cargo within China has shown signs of lethargy, with buyers focusing on post-National Day deliveries at discounted rates.

20 Aug 2024

Vietnam’s Long Son resumes offering spot PP, PE cargoes amid market uncertainty

Vietnam’s Long Son Petrochemical has resumed offering spot homo-PP and HDPE film to the local market, following the successful restart of its upstream crackers last week. Despite the reentry of this supply, the new offers are struggling to find traction amid challenging market conditions.

20 Aug 2024

China Morning Snapshot – 20 August 2024

The persistent decline in the futures market continues to exert downward pressure on the domestic spot market, with trading sentiment remaining tepid. Buyers are holding back on large-scale purchases, instead pushing for deeper discounts.

20 Aug 2024 Ethylene

Asian ethylene market leap to multi-month high on tightened supply conditions

Industry insiders also reported a reduced number of US cargoes in recent weeks as the series of production outages in the North American region pushed local prices higher and narrowed the export window to Asia.

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