A morning rebound in Dalian Commodity Exchange (DCE) polyolefin futures and downward-revised starting thresholds lifted auction purchasing activity on Friday, led by a swift recovery across PP streams.
Indonesia’s domestic PET bottle resin market rebounded sharply this week, decisively breaking above the psychological IDR 20,000,000/ton resistance level as early-week transactions gave way to an aggressive price revision.
Market players largely attributed previous session's price retreat to technical adjustment rather than a shift in fundamentals, and with crude and futures markets strengthening again today, local sellers held offers steady rather than chasing the move lower.
The softening in paper contracts triggered a wave of price discounting across domestic distribution hubs, immediately dampening procurement sentiment and narrowing the competitive advantage previously enjoyed by coal-to-olefin auction parcels.