16 Feb 2022
Shenhua attempted to lift deal prices following news about the production cuts at a couple of major local plants, however, transactions fell as a result.
Key PVC contract for May delivery on Dalian Commodity Exchange fell two out of three trading sessions this week despite the strong crude oil market on the concerns over Russia-Ukraine tension.
Sources said that the producer lower operating rates at PE units only to sell the excess ethylene for better margins, while there are no impacts on the PP outputs.
15 Feb 2022
Transactions remain healthy on Shenhua Auction Platform following the surge on the Dalian Commodity Exchange.
The increases are very much expected, however, the domestic spot market has yet to regain any strength this week following the constant declines the week before.
There have been market talks that Sinopec has also cut operating rates, however, CommoPlast has not been able to verify the information at the time of this report.
14 Feb 2022
Trading sentiment on Shenhua Auction Platform picks up significantly on the first trading day of the week on strong crude oil prices, lower availability and prices.
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