26 Sep 2022
The Shenhua auction platform concluded the session with a mediocre result. Buying interest for homo-PP seems particularly sluggish even after a discount of CNY50/ton from the previous day.
The producer has been reducing mPE offers to Indonesia for several weeks in a row, a development market participants attributed to the increase in competition from a local producer, Thailand, South Korea, and the USA.
Following two rounds of price cuts in the previous week, Zhongjing Petrochemical appears still in the selling campaign as the producer slashes export PP offers by another $10-15/ton on the first trading day of this week.
Demand for spot cargoes remains sluggish on the first trading day of the week, however, sellers do not seem in rush to slash prices citing the manageable domestic stocks.
25 Sep 2022
Meanwhile, the renewed price war in the end-product market, especially PE packaging, would likely to keep customers on the sidelines.
23 Sep 2022
Deals for PE are particularly strong, however, sources said that the substantially reduced availability contributed to the high percentage of transactions.
The pre-holiday replenishment activities appear not up to expectation this week, but Chinese sellers are hopeful of the trading sentiment in the coming week.
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