The Shenhua Auction Platform recorded stronger selling activity from the previous day, underpinned by a firm start in futures trading. However, bidding strategies remained prudent as buyers pointed to persistently weak demand across the broader domestic market.
The Shenhua Auction Platform closed with mixed acceptance rates, maintaining the divergence between the PP and LLDPE segments. This disparity mirrored trends on the Dalian Commodity Exchange, where PP contracts continued to outperform LLDPE.
Resistance was particularly evident in the homo-PP yarn segment, where acceptance rates plummeted by 36% from the previous session. Market participants cited a widening disparity between auction and spot prices,