09 May 2023
Purchasing activities weaken visibly compared to the previous session, still, Chinese producers refused to offer larger price cuts considering the reduced inventory pressure.
Trading sentiment on the Shenhua auction platform struggles to regain momentum on the second trading day of the week with disappointing sales results for both homo-PP and LLDPE cargoes.
08 May 2023
The producer credited the underwhelming prices to the sluggish local market in China as buyers here prefer to stay on the sideline while key contracts on Dalian Commodity Exchange extend the downtrend.
Following an active weekend, Chinese buyers withdraw to the sideline on the first trading day of the week to monitor the development on the Dalian Commodity Exchange.
Despite recording some sales, the post-holiday purchase activity is lesser than expected as buyers continue to remain vigilant with the weak energy market curtailing the overall buyer’s confidence.
04 May 2023
Buyers appear overwhelmed by the disappointing Chinese PMI data, the latest key interest rate hike in the US, and the nosedived crude oil prices.
In spite of the sizable price cut, Indonesian customers show no real interest in making large purchases citing the still soft finished goods businesses and the cloudy global economic outlook.
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