Notably, a CNY100/ton reduction in LLDPE auction prices failed to revive the purchasing appetite. Buyer-side inactivity in this segment arose from cautions surrounding a continued weakening spot market and converters’ production halts ahead of the Lunar New Year holiday.
A sharp rebound on the Dalian Commodity Exchange, spurred by rising crude oil prices, helped lift the domestic spot PVC market. Sellers also found support from the rapid depreciation of the Yuan against the US dollar, although the scope of price increases remained modest.