After aggressive price reductions in the prior week, Chinese PP suppliers have begun moderating their discount strategies for international buyers. This shift reflects a stabilizing domestic market, which has diminished sellers' willingness to concede to deeper price cuts.
Weak downstream demand, combined with volatility in the energy sector, has been the main driver of bearish sentiment. Market participants are now closely monitoring the potential for prices to dip below the $600/ton threshold in the near term.
Chinese bidders demonstrated strong purchasing interest during the first auction session of the week, acquiring additional coal-based PP parcels through the Shenhua Auction Platform, despite bearish signals from the Dalian Commodity Exchange.