05 Aug 2024
Several Chinese suppliers commenced the new week by raising export PP offers by $15-20/ton, attributing the hikes to favorable currency exchange rates and the lack of inventory pressure. This strategic move follows last week's unexpected rebound in the Dalian Commodity Exchange
05 Aug 2024
05 Aug 2024
Trading on the Shenhua Auction Platform faced significant disruptions at the start of the week, beset by a confluence of adverse factors. The sharp appreciation of the Yuan and the declining futures contracts on the Dalian Commodity Exchange dampened market activity, highlighting a precarious sentiment among buyers.
02 Aug 2024 SPVC k67-68 SPVC (A) k67-68
02 Aug 2024 PET Bottle
On the other hand, the downstream bottled beverage sector has not witnessed any major demand improvement amid the seasonal lull. Additionally, market sources are assessing the impact of the provisional anti-dumping duties the South Korean government imposed on the import of Chinese PET resin.
02 Aug 2024
02 Aug 2024
The Shenhua Auction Platform concluded the week with a notable dip in transactions, reflecting the volatility that marked the trading sessions. Despite a strong sales performance in the previous session, Shenhua’s decision to raise auction prices by CNY 40-50/ton backfired, leading to a sharp decline in buyer activity.
