23 May 2023
Following a brief delay, a key Taiwanese producer announces June PVC shipment offers to Asia with a $20/ton reduction from May despite the recent shutdown that impacted spot availability.
Efforts to maintain prices stable from the previous session proved to be void as Zhongjing Petrochemical resumes the downward trend on export PP offers to remain relevant in a market that is heavily affected by global macroeconomic strains.
Despite the slight rebound, trades were inadequate as buyers that made purchases in the previous session opted to sit out this session expecting further discounts
Following a depressing start at the beginning of the week, transactions on the Shenhua auction platform recovered sharply on the second day of the week thanks to the rebounded Dalian Commodity Exchange.
22 May 2023
In the domestic market in China, downward pressure escalates on the first trading day of the week as key contracts on Dalian Commodity Exchange nosedive to 2023's new lows.
Surprisingly, converters in the packaging sector started seeing an improvement in finished goods demand, particularly for LLDPE rolls, which is contributed to the post-holiday restocking
Market sources said that trading activities come close to zero even after the latest reductions and the smaller-than-usual built-up in local stocks.
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