08 Aug 2024
07 Aug 2024 PPH Raf
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
07 Aug 2024
Shenhua concluded its third auction session of the week with mixed results. The coal-based producer managed to attract satisfactory buying interest for homo-PP cargoes after trimming the price by CNY 20/ton. However, LLDPE film did not share the same success, reflecting divergent market dynamics.
06 Aug 2024
Market sources indicate that the production disruption has significantly affected the producer’s ability to fulfill delivery obligations for previously sold cargo, with several buyers experiencing delays of up to a month.
06 Aug 2024
Faced with sluggish demand, the producer opted for deeper price cuts at the start of August, hoping to invigorate buying activities ahead of the festive season. However, the outlook remains grim as the monsoon season and ample supply continue to weigh heavily on market dynamics
06 Aug 2024
The Chinese equity and futures markets struggled to rebound on Tuesday, despite gains in the regional market, as investor concerns over the sluggish economic recovery persisted. Key PP and LLDPE contracts for September delivery ended the morning session with moderate losses.
