19 Jun 2023
It is not surprised to see the PE market started gaining stabilization considering the relatively stable demand for these grades in Indonesia over the past months.
The short trading week is highlighted by the potentially no significant measures by the government to stimulate growth, which means spot PP and PE offers might remain rangebound.
19 Jun 2023 Ethylene
After thirteen consecutive weeks of decline, ethylene costs in this region are now at the lowest levels since August 2020 with a high possibility the current downtrend might persist in the near term.
Traders credited the pre-Dragon Boat holiday replenishment activities for the strong sentiment. Besides, coal-based PP and PE cargoes on the auction platform are still more competitive than spot materials
14 Jun 2023
Despite the large price cuts, initial responses from Chinese buyers are rather disappointing. It is important to note that Thailand HDPE cargoes, unlike LLDPE, face a 6.5% import duty in China.
Key PP and LLDPE contracts on Dalian Commodity Exchange ended the morning session with sharp increases on optimism surrounding the surprising interest rate cuts by the PBOC.
Trading activities on the Shenhua auction platform performed considerably better than the previous session as market confidence improved sharply after the People’s Bank of China (PBOC) cut short-term borrowing costs to support recovery.
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