30 Mar 2022
As reported earlier, Lotte Chemical Titan has lowered operating rates at its No. 1 naphtha cracker in Pasir Gudang by 10-20% starting 14 March 2022 due to high feedstock costs.
Customers tend to wait-and-see because the lockdown in Shanghai is creating a bullwhip effect on other sectors. Many farmers are unable to send their produce to the city amid the strict movement control.
29 Mar 2022
Transactions on the Shenhua auction platform remains relatively strong in comparison to the fresh lockdown in the financial hub of Shanghai.
Amid the gloomy near-term demand outlook, domestic producers keep spot PP and PE offers largely stable from the previous day claiming to have achieved the sales target for the month of March.
28 Mar 2022
The number of deals reflects the confidence among buyers; however, it is also worth noting that Shenhua has reduced the auction quantity substantially compared to last week.
However, customers are on the wait-and-see again claiming to have comfortable stocks until after Ramadan.
28 Mar 2022 PPH Raf PPH Raf (CTO/MTO)
Explaining the decision, a source close to the trading house said that the shipping costs to Vietnam rise sharply in April while to Indonesia, the increases are merely one third or half of the hikes to the former.
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