Despite Shenhua's ultimately positive trading performance, the homo-PP market weakened, with transaction volumes moderating visibly from the previous session. This decline was predominantly driven by bearish sentiment reflected in futures contracts
After much reluctance, a major Taiwanese producer has reduced January PVC shipment offers to Asia, citing persistently sluggish demand conditions and softer ocean freight rates. However, the price adjustment of $20-25/ton failed to spur immediate buying interest
While HDPE demand remains sluggish, LLDPE film pricing shows potential for more stability. This is partly attributed to resilient demand in the Chinese market, which could create spillover effects in Southeast Asia.
The most actively traded PP and LLDPE contracts for May 2025 delivery on the Dalian Commodity Exchange remained largely unchanged from the previous session, defying softer trends in regional equity markets. Traders exhibited caution, balancing disappointing consumer spending data against the government’s pledges to increase direct fiscal support in 2025.
Despite sluggish futures trading on the Dalian Commodity Exchange during the morning session, Shenhua successfully sold most of its available auction volume. The slight discounts offered on coal-based homo-PP cargoes supported the satisfactory transaction results