05 Aug 2024
Trading on the Shenhua Auction Platform faced significant disruptions at the start of the week, beset by a confluence of adverse factors. The sharp appreciation of the Yuan and the declining futures contracts on the Dalian Commodity Exchange dampened market activity, highlighting a precarious sentiment among buyers.
02 Aug 2024 SPVC k67-68 SPVC (A) k67-68
02 Aug 2024 PET Bottle
On the other hand, the downstream bottled beverage sector has not witnessed any major demand improvement amid the seasonal lull. Additionally, market sources are assessing the impact of the provisional anti-dumping duties the South Korean government imposed on the import of Chinese PET resin.
02 Aug 2024
02 Aug 2024
The Shenhua Auction Platform concluded the week with a notable dip in transactions, reflecting the volatility that marked the trading sessions. Despite a strong sales performance in the previous session, Shenhua’s decision to raise auction prices by CNY 40-50/ton backfired, leading to a sharp decline in buyer activity.
01 Aug 2024
The resurgence in the futures market has buoyed the domestic spot market, with new offers for August delivery rising by CNY 50/ton for both PP and PE cargoes from the previous day. However, the rush to secure materials seen in the previous session has notably subsided.
01 Aug 2024
For the second consecutive day, trading sentiment on the Shenhua Auction Platform remained robust, bolstered by resilient futures contracts on the Dalian Commodity Exchange. Supporting the strong auction results for both PP and PE was the coal-based producer's decision to keep auction prices stable from the previous day, despite rising futures and spot markets.
