This broader bearish trend across Asia has been driven by subdued demand, though discussions in the market have intensified as Chinese suppliers face increasing difficulty in conceding further price reductions due to surging freight costs.
Paring a brief period of stabilisation in the post-Lunar New Year period, the local LLDPE film market in China has been entrenched in a nearly three-month-long downtrend. Weighing the current supply-demand dynamic, market participants are not overly optimistic about the near-term outlook.
The Shenhua Auction Platform concluded the morning session with mixed results across polymer grades, aligning with divergent movements on the Dalian Commodity Exchange, where PP futures posted a stronger rebound compared to LLDPE.
Trading sentiment on the Shenhua Auction Platform remained largely unchanged as the week progressed, despite a rebound in the Dalian Commodity Exchange. Chinese buyers continued to show reluctance in securing additional cargoes