08 Jun 2021
As reported earlier, end product demand in the post-Ramadan month remains thin, which discourages PE packaging manufacturers from making large replenishments.
Apparently, the delay in import arrivals has tightened the local supply, giving traders the support to implement the hikes.
Trading sentiment in the domestic spot market remains sluggish even after the fresh price cuts as buyers prefer to hold a cautious stance.
The number of transactions on Shenhua’s auction platform remains dwindling on the second trading day of the week even at lower prices.
07 Jun 2021
The drop is expected to pressure other suppliers to step back on the prices in the coming days, from which buyers become more cautious in proceeding with new purchases immediately.
Eight cities in central Java have been placed under strict lockdown to break the infection chain, which also reduced the need among manufacturers to make replenishment.
It is reported that the electricity issues in the Southern China area have been eased with manufacturers are now allowed to operate six days a week.
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