29 May 2025
A firming crude oil market lent some support to sentiment, helping to slow the recent downward momentum.
28 May 2025
The latest auction session at Shenhua closed on a cautiously positive note for homo-PP grades, which saw a noticeable uptick in buying interest relative to the previous round.
While the overall conversion rate on the Shandong Yulong Auction platform improved marginally compared to the previous session, a closer examination by product grade reveals a more nuanced picture.
Domestic producers continue to closely track pricing cues from the Dalian Commodity Exchange. Homo-PP prices were largely unchanged, while LLDPE spot offers were reduced
27 May 2025
Despite Shenhua’s deliberate move to position auction prices below the psychological CNY 7,000/ton mark—an effort to entice buyers—the response was notably muted.
Despite applying mandatory distributorship qualifications, the Shandong Yulong Auction Platform could not sidestep the prevailing bearish sentiment across the Chinese petrochemical market.
Despite the reductions, buyer response remained muted, with expectations mounting that further declines may be on the horizon given ongoing macroeconomic uncertainties.
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