Trading sentiment in China remained dwindling on the second day of the week and the unchanged local PP and PE inventory levels highlighted the lack of purchasing activities.
In China, following a more active restocking activities for import homo-PP cargoes, buyers here also started seeking import LLDPE film
In a surprising but pleasant development, Chinese buyers have shown acceptance toward import homo-PP cargoes from dutiable origins
Trading sentiment across the Asian PP and PE market remained dwindling and despite the spreading expectations that the recent downtrend might be nearing the bottom
Chinese sellers are, therefore, caught in a challenging position as their export offers are now unable to compete with more aggressive origins such as South Korea and India.
In the meantime, a Thailand producer attempted to stimulate LLDPE film sales by bundling the grade with other cargoes, such as LDPE film and metallocene PE.
There have been reports that buyers generally prefer to wait on the sideline while in Northeast Asia, buying ideas emerged well below the $850/ton threshold.
In India, a major local producer lifted PVC offers for the second time in two weeks, adding another INR1,000/ton on the back of the gradual demand improvement.
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