As China steps back from aggressive discounting, other international producers gain room to recalibrate offers, marking a shift from volume-driven liquidation toward a more disciplined repricing phase that prioritises margin recovery.
Shenhua’s latest auction session recorded strong sell-through rates across both PP and LLDPE segments, signalling that buyers are increasingly willing to accept higher price levels to secure immediate restocking needs.
Although some buyers have begun to push back against the higher offers, market participants broadly expect the producer to maintain a firm stance on spot cargoes in the near term, underpinned by visible supply constraints.