China Morning Snapshot – 09 August 2024

09 Aug 2024 Despite stronger futures contracts on the Dalian Commodity Exchange, confidence among Chinese suppliers remained low, preventing any significant increase in spot PP and PE prices. In fact, spot LLDPE film prices softened by CNY 50/ton, while homo-PP prices held steady.

09 Aug 2024

09 August 2024 - Shenhua's coal-based PP and PE Auction Results

Thanks to the rebounded futures contracts on the Dalian Commodity Exchange, Chinese bidders became more willing to source additional PP and PE cargoes, leading to some improvement on the Shenhua Auction Platform.

08 Aug 2024 PET Bottle

Chinese PET bottle market weakens amid exchange rate pressures and falling upstream costs

The Yuan has appreciated by approximately 1.1% against the US dollar over the past week, reaching around 71.6 Yuan to a dollar as of 08 August. A stronger local currency typically exerts downward pressure on commodity prices denominated in that currency.

08 Aug 2024 LD Film

Chinese LDPE film market halted a five-week streak of declines; demand remained sluggish

The Chinese LDPE film market rebounded slightly from the five consecutive weeks of decline even though the overall demand condition has yet to demonstrate a strong uptick. Market sources attribute the price increases primarily to bullish demand expectations ahead of the traditional manufacturing season and a decrease in import arrivals.

08 Aug 2024

China Morning Snapshot – 08 August 2024

Chinese suppliers have been adjusting spot offers within a narrow CNY50/ton range to gauge market responses. However, transaction volumes remain low, with only a limited number of deals concluded at discounted prices.

08 Aug 2024

08 August 2024 - Shenhua's coal-based PP and PE Auction Results

Market participants expressed concern over the dwindling buying activities throughout the week but remained hopeful about the demand outlook ahead of the traditional manufacturing season.

07 Aug 2024 PPH Raf

Chinese PP market braces for supply surge as local plants return from maintenance shutdown

During June and July 2024, several PP producers voluntarily curtailed production to counter challenging market conditions that severely eroded operating margins. This strategic move temporarily eased supply pressure on the domestic market, especially when shipping issues hampered exports.

07 Aug 2024

China Morning Snapshot – 07 August 2024

The persistent weakness of the Dalian Commodity Exchange has inevitably dragged the domestic spot market lower. Despite fresh price cuts, buyer responses have been lethargic

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