With supply constraints from key overseas producers persisting, expectations are growing that the uptrend will extend into the coming months. These concerns have fuelled buying activity in the local market over the past week
As reported earlier, large-scale buyers in the beverage sector have procured tens of thousands of tons of PET bottle resin during the downswing in December for February delivery. With suppliers now focusing on fulfilling these commitments, immediate sales pressure has subsided.
Overseas suppliers have begun capitalizing on the bullish momentum in the local market to strengthen import offers to China. Market participants are closely assessing China's response to determine potential ripple effects in other markets.
Trading activity on the Shenhua Auction Platform remained stable despite persistent weakness in the futures market. The marginal increase of CNY 40/ton in LLDPE auction prices had minimal impact on overall transaction performance compared to the previous session.