18 May 2022
It is not surprising that a key Taiwanese producer opens June shipment offers for PVC with reductions considering the soft demand condition and the growing competition from Chinese cargoes.
Attempts to keep spot PP and PE prices firm ended in vain as buyers refrain from making large purchases regardless of the reopening.
17 May 2022
Chinese buyers portrayed a high level of enthusiasm after signs that the COVID-19 outbreak is under control in key region and Shanghai is set to reopen on 1 June.
In spite of the large cuts, Indonesian customers remain uninterested in the price list because of the substantial gap with the import market.
While real purchasing activities remain below expectations, the general market sentiment improved sharply as the Shanghai municipal government introduces a series of easing lockdown measures
16 May 2022
Trading sentiment revived sharply following news that Shanghai would re-open starting 1 June, which would boost local consumption.
Data from CommoPlast showed that export homo-PP yarn offers from China has reached 2022’s all-time low this week and market players started to ask the question if the market is bottoming out amid the easing lockdown measures in China.
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