The price cuts are attributed to intensifying competition and ongoing exchange rate challenges. Despite these hurdles, Vietnamese buyers have actively engaged in negotiations, indicating underlying demand in the market.
The Shenhua Auction Platform performed robustly for a second consecutive day, with all grades sold out. Trading sentiments were bolstered by gains on the Dalian Commodity Exchange as well as attractive rates as compared to the spot market
At the start of the week, a leading Indonesian producer raised spot PP and PE offers in the local market, citing the continued depreciation of the Rupiah against the US dollar and reduced availability of ASEAN-origin materials. The producer appeared more optimistic about the PP segment
The Shenhua auction concluded on a strong note despite weak trading sentiment in the futures market on the Dalian Commodity Exchange (DCE). As the month-end approaches, the producer intentionally reduced allocations to the auction platform, which contributed to the robust results.