17 May 2021
Players initially called for $100-200/ton reductions on June shipment offers, yet there have been opinions that suppliers might introduce even larger cuts.
There have been reports that many small-scale manufacturers in the injection molding sector are still off and would only return to work on 20 May 2021.
In the meantime, spot PE offers in the local ground decreased CNY50-100/ton ($8-16/ton) from the previous week with mediocre number of transactions observed.
One of the most concerning issues in China market is the electricity shortage in Guangzhou as summer electricity usage surges.
Chinese bidders appear more active on the first trading day of the week, reflected in the healthy number of transactions for both PP and PE cargoes.
14 May 2021
It is expected that the market would track a similar trend in the coming week as more new plants come online and started marketing their cargoes locally.
Transactions fell substantially on the final trading day of the week in spite of the lower deal prices compared to the previous day.
Don't have an account? Register