07 Aug 2024
07 Aug 2024
Shenhua concluded its third auction session of the week with mixed results. The coal-based producer managed to attract satisfactory buying interest for homo-PP cargoes after trimming the price by CNY 20/ton. However, LLDPE film did not share the same success, reflecting divergent market dynamics.
06 Aug 2024
Market sources indicate that the production disruption has significantly affected the producer’s ability to fulfill delivery obligations for previously sold cargo, with several buyers experiencing delays of up to a month.
06 Aug 2024
Faced with sluggish demand, the producer opted for deeper price cuts at the start of August, hoping to invigorate buying activities ahead of the festive season. However, the outlook remains grim as the monsoon season and ample supply continue to weigh heavily on market dynamics
06 Aug 2024
The Chinese equity and futures markets struggled to rebound on Tuesday, despite gains in the regional market, as investor concerns over the sluggish economic recovery persisted. Key PP and LLDPE contracts for September delivery ended the morning session with moderate losses.
06 Aug 2024
Following a volatile start to the week, buyer activity rebounded significantly on the Shenhua Auction Platform. Despite this resurgence, the coal-based producer opted to keep the auction price for homo-PP unchanged while marginally reducing the LLDPE price by CNY 20/ton to facilitate smoother sales.
05 Aug 2024
Several Chinese suppliers commenced the new week by raising export PP offers by $15-20/ton, attributing the hikes to favorable currency exchange rates and the lack of inventory pressure. This strategic move follows last week's unexpected rebound in the Dalian Commodity Exchange
