In September, the Taiwanese maker opened its price list to Southeast Asia at $805/ton based on CIF terms. Sources expect that new offers for October loading would drop sharply to close the existing price gap with Chinese cargoes.
Market analysts attribute this slight uptick in sentiment to the Chinese government’s renewed efforts to revive the ailing property sector, including the relaxation of purchasing restrictions for non-local buyers in key cities like Beijing and Shanghai.
The upstream PTA market continues to struggle under the weight of excessive supply, with no signs of production cuts from major producers. This market weakness is casting a long shadow over the downstream PET bottle sector.
Buying interest for LLDPE remained robust, with no additional discounts offered on auction prices, reflecting solid demand. In contrast, Shenhua introduced a modest CNY 50/ton discount on homo-PP, successfully stimulating demand in that segment.