25 May 2024
The rally in the futures market at the beginning of the week on bullish expectations over the property market encouraged Chinese PET suppliers to lift export offers by $15 – 20/ton week-on-week.
24 May 2024
The prevailing consensus is that spot offers need to decrease by at least another CNY100/ton to get better market engagement.
After a disappointing trading session yesterday, all three traded commodities on the Shenhua Auction Platform came out stronger today with deals achieving above 94%.
23 May 2024
Across Southeast Asia, market participants closely monitor the recent upsurge in Chinese PP offers and the rising shipping costs.
While official homo-PP offers from local producers are stable from the previous session, traders are open to negotiation with serious buyers.
In a bold move, Shenhua decided to lift auction prices by CNY50/ton for homo-PP and CNY30/ton for LLDPE from the previous session against all the odds.
22 May 2024
Sources believed that the controversial price decision in Vietnam derives from the ultra-bullish expectations following the strong responses in China.
Don't have an account? Register