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.
Trading activities on the Shenhua auction platform remained strong for the third consecutive session thanks to the resilient Dalian Commodity Exchange.
28 Mar 2023
The latest price reductions, although considered large, failed to stimulate the desirable buying interest among Malaysian buyers.
Even after the sharp reductions, the producer’s latest PP offers are deemed less attractive compared to other non-dutiable origins.
Several other traders expressed their interest in making additional replenishment for LLDPE film from the import market this week due to the tight spot supply in the local market.
Thanks to the strong rebound on the energy complex, Chinese bidders are more confident in proceeding with new purchases on the Shenhua auction platform this morning.
27 Mar 2023
Indeed, Southeast Asian customers have been relatively firm on their buy ideas for homo-PP yarn and injection below the $1000/ton threshold based on CIF terms.
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