03 Apr 2023
Indonesian customers have been expecting some downward adjustments from the producer, however, the aggressive pricing decisions were unaccounted for.
Spot PP and PE offers in the domestic spot market jumped as much as CNY150/ton ($22/ton) from the previous session to reflect the abrupt surge in crude oil prices
Shenhua auction platform kickstarted April on a strong note thanks to the rebound on the Dalian Commodity Exchange following the drastic surge in the energy complex.
30 Mar 2023
Although the domestic spot market in China has been tracking the stabilizing trend over the past several trading days, buyers here would only secure enough materials to cover their immediate needs instead of building stocks.
Even with the low stock levels, domestic producers are forced to step back on their spot PP and PE offers toward the end of the week as the two consecutive sessions of weakening futures trading dented market confidence.
The plunge in purchasing activities is seen as a testimony that buyers have restocked sufficiently and prefer to wait on the sideline amid the weaker temperamental Dalian Commodity Exchange.
29 Mar 2023
For the first time in March, the total stocks belonging to Sinopec and CNPC dropped below the 700,000 tons mark, which further encourages sellers to maintain a firm stance on the prices.
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