17 Aug 2022
For the third session in a row, Chinese bidders prefer to wait on the sidelines leading to a persistently disappointing auction result for Shenhua’s coal-based cargoes.
CommoPlast has been reporting a weakening trading sentiment in the domestic China market over the past week as a result of the electricity shortages that force the manufacturing sector in Zhejiang and Sichuan to reduce operating rates.
Following a set of weak economic data, the market continues to face downward pressure as the electricity shortage forces the manufacturing sector to cut operating rates substantially.
16 Aug 2022
Chinese bidders remain on the sideline following the nosedive on the Dalian Commodity Exchange. Apparently, the CNY200/ton discount on LLDPE still failed to attract any buying interest.
September delivery contract for PP and LLDPE registered three-digit losses by the end of the morning session as investors remained concerned over the demand outlook.
15 Aug 2022
Despite the rebound in the futures market, Shenhua decided to keep deal prices on the auction platform largely unchanged from the previous session.
Most Chinese suppliers have been focusing on the domestic market for a couple of months now as the rapid price deterioration overseas contrast to the steady local ground keeps the export window closed.
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