More international suppliers open fresh weekly price lists to China at stable to softer levels despite signs of improving trading sentiment elsewhere.
The Chinese government announced another CNY300 billion ($44 billion) on infrastructure spending last week on top of the CNY300 billion announced at the end of June 2022. Yet, the commodity market has not responded strongly.
While Chinese customers have cautiously accepted higher import homo-PP offers from regular suppliers, it seems laborious to implement any real increases in PE prices when irregular origins are available at relatively competitive levels.
A fresh round of COVID-19 containment measures in Yiwu city, Zhejiang province summon a heavy cloud on the market. Yiwu city is the manufacturing hub of festive products, including decorative items that mainly meet the export demand.