15 Jun 2022
Transactions on the Shenhua auction platform pick up by mid of the week as the producer agreed to keep deal prices at the competitive side, creating an attractive gap with the Dalian Commodity Exchange
The domestic spot market remains largely unchanged from the previous session. Customers are still not confident in making large purchases, which encourages suppliers to offer another round of minor discounts.
14 Jun 2022
Compared to the previous day, trading activities have shown improvement on the Shenhua auction platform following a steep discount on most of the available grades.
Several Chinese sellers also complained about weaker demand from South American customers this week, which might add more pressure to the already sluggish domestic market.
13 Jun 2022
The upbeat sentiment observed earlier last week has totally dissipated after part of Shanghai and Beijing returned to lockdown following a flare-up in the infection cases.
Up to late last week, transactions for PP and HDPE in the domestic distribution market remained satisfactory, though most buyers are small-scale manufacturers.
Market confidence in the near-term outlook is dissipating rapidly on the concerns that more areas would be placed under movement restrictions as the authorities escalate testing and contract tracing.
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