15 Apr 2024
Zhongjing Petrochemical reportedly opened fresh export PP offers on the first trading day of the week at unchanged levels from the previous week despite the growing Middle Eastern concerns.
As the situation unfolds, the market vigilantly monitors the two key concerns: potential disruptions to direct supply from Iran and heightened security at the vital Strait of Hormuz.
Sources expected the current firming trend to persist in the coming month citing the heavy maintenance season among local plants.
The domestic spot market holds largely stable while both buyers and sellers adopt a cautious stance to assess the near-term outlook following the escalated conflict in the Middle East.
Trading sentiment on the Shenhua Auction Platform improved visibly on the first trading day of the week following the weekend broiled with concerns over the heightening Middle Eastern tension.
12 Apr 2024 SPVC k67-68
In the meantime, buyers are closely monitoring the impact of the local maintenance shutdown season on the supply outlook. Customers cautiously make small purchases to avoid supply disruption risks
12 Apr 2024
New offers for both PP and PE are unchanged from the previous day, stoking heavy negotiations among local buyers throughout the morning session.
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