In a noteworthy move, a major Indonesian producer has once again lowered its weekly PP and PE offers to the domestic market, marking the second straight week of reductions despite the ongoing Eid al-Fitr holidays. The latest price cuts reflect continued pressure
Even for businesses not directly impacted by the US tariffs, the current market landscape remains fraught with challenges. Sentiment over the near-term outlook is increasingly bearish, weighed down by weakening demand, currency headwinds, and a sharp downturn in the energy complex.
The Shenhua Auction Platform saw improved sales from the previous session, driven by stronger hand-to-mouth purchasing in both the LLDPE and PP segments. However, bids were noticeably more cautious, reflecting the softness on the Dalian Commodity Exchange.
Although Shandong Yulong’s auction platform continued to see elevated uptake rates, bidders settled deals at lower levels, reflecting caution in both the spot market and the Dalian Commodity Exchange. In the spot market, discounts had been required to stimulate buying, prompting traders to mitigate pricing risks during restocking.