21 Sep 2023
On the other hand, market players are monitoring the operating rates at LSP’s plants bearing concerns that high naphtha cost and squeezed margins might encourage the maker to maintain low utilization rates
Delayed in delivery of previously purchased parcels coupled with the strong upstream cost outlook are cited as the primary support behind the latest hikes.
Key local producers, namely Sinopec and CNPC managed to deplete the combined PP and PE inventories below the 600,000 tons threshold for the first time in a couple of weeks
To compensate for the downward pressure, Shenhua stoke up demand by offering CNY60/ton discount on deal prices for homo-PP and CNY70 – 140/ton on LLDPE
20 Sep 2023
Due to the upcoming maintenance shutdown, the maker could only supply spot LLDPE film allocations while skipping HDPE film offerings entirely.
Key PP and LLDPE contracts on the Dalian Commodity Exchange ended the morning session in the red, shrugging off the stable benchmark rates set by the PBOC.
Even though Shenhua allocated smaller PP and PE allocations to the auction session, the deals concluded were still disappointing.
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