25 Jan 2021
The producer cuts the allocation for auction drastically on the first trading day of the week compared to the previous session.
A number of local traders informed that buyers are no longer enthusiastic in placing orders, and even at lower price levels, the interest is very weak.
The initial response from the market is not very strong and buy ideas are mostly below $1050/ton for both HDPE and LLDPE film citing the long shipping times.
22 Jan 2021
As reported earlier, the producer is not having a high allocation for PP block copolymer due to an on-going shutdown at the unit.
Market sources said that Middle Eastern LLDPE film available earlier this week at $1000/ton CFR China have all been sold out.
Chinese buyers actively returning to the market to make replenishment on the final trading day of the week thanks to the rebound in the futures market.
It appears that locating trucks for prompt delivery is getting more difficult as logistics companies started to let drivers to leave for holidays.
Don't have an account? Register