21 Mar 2024
Chinese bidders are still prepared to make replenishment; however, pricing matter seems to be of concern at the moment.
20 Mar 2024
According to a source close to the producer, the adjustment was introduced last Friday and given the continued firming domestic market this week, Zhongjing is contemplating further hikes.
With the continued rising futures market and substantially reduced inventory pressure, it is only natural for Chinese suppliers to lift spot PP and PE offers further.
Players said it was because the auction price was kept at a constant level whereas local sellers were increasing the spot offers by CNY50/ton, producing favourable dealings on the auction platform instead.
19 Mar 2024
Over the past weeks, market participants have been attempting to gauge the possible market direction, weighing the strong ethylene costs against the sluggish demand conditions regionwide.
Comparing the demand for PP and PE, Chinese customers are more interested in adding extra PP cargo to their existing stocks than PE.
With strong buying interest from customers, Chinese suppliers are in no mood to negotiate, still, transactions are satisfactory, which signals the market acceptance.
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