24 Mar 2022
This is the first time since 3 March the domestic stocks fell below the 900,000 tons threshold and it is not because of an uptick in demand but from the mass operating rates adjustments since the beginning of the month.
23 Mar 2022
Transactions on the Shenhua auction platform fell sharply as the market reacted to the news of more cities entering lockdown.
In the upstream market, both MEG and PTA rebounded slightly this week from the previous dip, following the upstream energy market.
Meanwhile, the availability of competitive Chinese PP cargoes draws buyers from higher-cost parcels.
Meanwhile, converters are showing no rush to secure large quantities, expecting the inventory pressure would force sellers to step back on the prices in the coming days.
22 Mar 2022
The Shenhua auction session concluded with a strong number of transactions signalling the revived risk appetite among Chinese bidders as the government waivers on ‘0 tolerance’ COVID-19 policies.
The producer has emphasized that the new price cuts are to reflect the demand condition in China market alone.
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