13 Jan 2022
Chinese bidders seem more willing to accept minor increases in today’s auction session, leading to a rather satisfactory sales result for most of the available cargoes.
Purchasing activities are reported mediocre. The rising number of COVID-19 infection cases prompted state governments to implement strict measures while ordering industries to operate at lower rates.
In three trading days, local inventories dropped 90,000 tons underlining the fact that buyers are making pre-holiday replenishment.
12 Jan 2022
Transactions on the Shenhua auction platform showed a strong pick up by mid of the week after the supplier agreed to minor discounts from the previous session.
Offers for PE seems stronger than PP, however, several traders told CommoPlast they are willing to negotiate with serious buyers.
Market participants are optimistic that trading sentiment would improve by the second half of February as preparation for Ramadan takes place.
11 Jan 2022
The Shenhua auction platform ended the session at a higher note compared to the previous day, in terms of both prices and percentage of deals.
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