19 Feb 2024
The post-holiday demand status remains unclear on the first trading day of the week, yet the producer inclined to a rather bullish stance.
On the first trading day of the week, a key Malaysian producer surprised the market by announcing March PE shipment offers to Vietnam with large increases
The Chinese PVC market resumed trading following the weeklong Lunar New Year holiday on a soft note, dragged by bloated local inventories and the falling key futures contracts on the Dalian Commodity Exchange.
Manufacturing plants in China would only usually be able to ramp up operating rates after the Chap Goh Mei festival due to the absence of workers.
Market participants remained vigilant about future movement of the market but also being practical and expect the market to take some time to warm up after returning from a long holiday, as is customary.
18 Feb 2024
Trading activities are weak, which is not surprising considering the fact that a large part of the market has not returned from the holiday.
The concluded deals reached thus far were encouraging with more warehouses auctioning PP commodities today and in contrast to the days before the Lunar New Year holiday, the auction prices for homo-PP at present are actually stable
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