Market sentiment on the Shenhua Auction Platform has been adversely affected by declining futures contracts on the Dalian Commodity Exchange, coupled with softer spot prices that diminish the attractiveness of auctioned parcels.
Similar to other Southeast Asian currencies, the Vietnamese Dong has been depreciating rapidly against the US dollar, driven by revised market expectations regarding the Federal Reserve's monetary policy.
The Malaysian PP and PE market has experienced a notable rebound, with a leading domestic producer announcing significant price increases for November deliveries. These hikes are largely attributed to the depreciation of the Ringgit
In a notable display of market resilience, a leading Indonesian PVC producer has opted to keep its November pricing unchanged despite ongoing economic challenges, including currency fluctuations and diminishing local demand.
Trading sentiment on the Shenhua Auction Platform saw a slight improvement today, supported by a rebound in futures contracts on the Dalian Commodity Exchange. Additionally, a three-fold drop in auction volumes, attributed to routine month-end closures, helped reduce sales pressure for the coal-based producer.