07 Feb 2024
Market participants are not in the mood to build inventories given the uncertain political conditions ahead of the presidential election on 14 February 2024.
The rebounded Dalian Commodity Exchange caught the attention of arbitrage traders, however, spot cargoes are not attractive enough to materialise transactions.
Thanks to the sharp rebound on the Dalian Commodity Exchange, transactions for coal-based PP and PE cargoes on the Shenhua auction platform picked up significantly from the previous session.
06 Feb 2024
According to the latest data from the National Bureau of Statistics, production outputs for key petrochemical products in China rebounded by 1.8% in the month of December 2023 following a sharp dive the month before.
As expected, trading sentiment in the domestic spot market has come to a near standstill as the Lunar New Year holiday is just a couple of days away.
Interestingly, customers showed steady interest in LLDPE cargoes with more than 70% deals achieved from the auction allocation.
The price cuts attracted some buying interest, however, the large of the market prefer not to purchase large quantity citing the uncertain post-holiday market outlook.
Don't have an account? Register