16 May 2022
Trading sentiment remains soft throughout the first half of the day as market participants adopt a cautious stance to monitor further development.
13 May 2022
With additional price cuts from the previous session, Chinese bidders become more interested to return to the Shenhua auction platform on the final trading day of the week.
Negotiations are so fierce that bids for non-dutiable cargoes originating from China and South Korea emerge at $1200-1210/ton, based on the CIF term.
Several trading houses confirmed the sluggish buying sentiment, complaining of the poor number of inquiries from both local and overseas buyers.
12 May 2022
The mediocre number of transactions recorded on the Shenhua auction platform comes as a surprise considering the fact that the maker has not adjusted the deal prices
Supply continued to exceed demand in April following the lockdown in Shanghai that disrupt the supply chain, causing serious storage pressure.
It appears that Chinese sellers prefer to focus on the export market, leveraging the depreciation of the Chinese Yuan against the US dollar.
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