Earlier this week, a major Saudi Arabia producer slashed import LLDPE film offers to China by $70/ton, causing a lot of ‘wow’ across the region. Well, more ‘wow’ by the second half of the week as the same producer put up another $30/ton discount, totalling the reductions to $100/ton week-on-week
A week after the Chinese government announced the reopening plans for Shanghai, the local PP and PE market here showed little changes. Buyers remain less than enthusiastic about making replenishment even after the Nanjing municipal government distributed consumption vouchers
The Indonesian PP and PE market remains calm on the first day returning to work following the long holiday break. Key local suppliers keep spot offers largely unchanged from the pre-holiday period in a strategic move to gauge the market reaction amid the softening regional market in the background.