10 Jul 2020
Purchasing activities on the auction platform remain weak on the final trading day of the week.
Manufacturers prefer to wait on the sideline with expectation that spot offers for both PP and PE could soften further in the coming week would COVID-19 cases outside of China continue to increase.
09 Jul 2020
Transactions on the auction platform fell drastically toward the end of the week, underlining the weaker sentiment in this market.
It becomes more difficult to attract manufacturers at the current prices in the absence of arbitrage traders.
08 Jul 2020
There have been reports that buyers are down-adjusting buy ideas in anticipation of improving supply conditions.
Suppliers are downplaying the potential impact of the softening upstream ethylene costs and weak demand conditions outside of China in the absence of inventories pressure.
The auction results appear more sluggish this morning, however, availability remains limited, especially for PE cargoes.
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