The Shenhua Auction Platform commenced the month’s trading with more competitive offers, diverging from the firmer trends observed on the Dalian Commodity Exchange. The producer’s strategy appeared aimed at sustaining purchasing momentum, particularly as allocations for both grades increased.
Indonesia’s local PP and PE markets rebounded sharply as a major domestic producer reversed its earlier decision to maintain stable spot offers, implementing a substantial increase of IDR 330,000/ton ($20/ton) across most grades.
The Shenhua Auction Platform closed the month on a strong footing, supported by the firmness on the Dalian Commodity Exchange. Further support arose from the producer’s thinner allocations, stemming from robust purchasing activity in the previous session.
While trading sentiment in the local market has been flat for two consecutive weeks, key Chinese suppliers attempted to spur buying interest on the international front by sporadically adjusting offers to gauge buyer responses.