29 Jun 2021
Demand in China started to pick up in recent weeks thanks to the support from the reviving Dalian Commodity Exchange and the manufacturing sector prepares to enter the high demand season.
Local producers have indicated no signals of lowering spot PP and PE offers considering the reduced inventory pressure and the expected low import arrivals in the month of June and July.
The allocations for auction continue to drop as a result of low inventory pressure ahead of the month-end closing.
28 Jun 2021
The development has also encouraged local traders to withhold the on-hand cargoes hoping to achieve deals at higher price levels in the coming days.
A number of manufacturing plants have informed CommoPlast of having shut down at least 2 weeks for sanitization after detected infection cases in the company.
Although spot PP and PE prices have yet to register any real increases, local suppliers are monitoring the movement very closely, now that some industries are returning to work that would elevate consumption.
Trading sentiment in the domestic spot market has not shown any changes during the early hours of the first trading day of the week.
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