14 Oct 2020
Transactions improved visibly on the auction platform despite higher prices compared to the previous trading day.
China market would start to see more import PP and PE arrival in the coming weeks, though, local sellers are not too concerned.
13 Oct 2020
Competitive domestic market would post a real challenge for international sellers to increase prices any further.
The latest hike is a result of reducing sales pressure, better purchasing activities in China, and strong upstream ethylene costs.
Meanwhile, Chinese manufacturers are more cautious citing the squeezed profit margins, especially among those serving the local demand.
Sentiment dims slightly on the second trading day of the week with much lower percentage of deals registered for both PP and PE cargoes.
Market sources reported that sentiment drops slightly this morning compared to the previous trading day as buyers started to resist the higher prices.
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