05 Jul 2023
As the rollover introduced earlier this week was deemed overly conservative considering the bullish market development, a major Indonesian producer decided to revise spot PP and PE offers upward
05 Jul 2023 SPVC k67-68
The price decision reflects the latest development in the import market, and although pleasant, Indonesian buyers show little interest in securing large quantities
On the other hand, market participants in the Southern China region reported an uptick in inquiries for LLDPE film cargoes – an inevitable result of a prolonged period of lacking restocking.
Trading sentiment on the Shenhua auction platform improved sharply from the previous session, particularly for coal-based homo-PP cargoes after the producer agreed to CNY10/ton discount.
03 Jul 2023
Key Chinese PP producer Zhongjing Petrochemical opened export PP offers for the first week of July stable from last week to size up market response despite the continued depreciating Yuan against the US dollar
The latest offers somewhat surprised the market, however, there have been discussions that a weak global economic outlook might have overshadowed sellers’ confidence.
Several traders told CommoPlast about the soft finished goods market, reflecting in the lack of new PO among export-oriented converters.
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