02 Mar 2022
Undeniably, the cost-push is strong for PP producers. While the domestic spot PP market embarks on what seems to be a break from the persistent uptrend, there are limited supports for any major downswing ahead.
Arbitrage traders are especially active in scouting for cargoes at the lower end of the overall price range, further supporting the firmer trend.
01 Mar 2022
The Shenhua auction platform opens the first trading day of the month on a strong note as arbitrage traders continue to leverage the firming Dalian Commodity Exchange.
However, several traders expected some resistance toward PP parcels citing the presence of competitive Chinese cargoes in the import ground.
Market sources said that trading activities in the local ground come to a standstill following the weekend holiday as buyers hold positions to further assess the impact of the Russian-Ukraine conflicts.
The argument is that local stocks remained above the 1 million tons threshold while the government might escalate the effort to keep inflation in check in the coming Communist Party Meeting.
28 Feb 2022
The number of transactions reported on the final trading day of the month might not accurately reflect the actual state of demand in the local China market today, given the limited quantity available.
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