17 Sep 2026
Local sellers made mixed adjustments as futures slipped back into weaker territory, but demand stayed thin. Most buyers held to the sidelines, restricting purchases to small, need-based volumes.
16 Sep 2026
Buyers, while increasingly concerned about escalating input costs and difficulties in passing the increases downstream, are nevertheless looking to secure cargoes amid expectations of further hikes ahead.
All three auctioned grades achieved 100% clearance, marking a clean sweep that reflected the combined effect of firm futures and auction prices that held at levels buyers considered reasonable relative to the local spot market.
Sources said the paper market has lagged behind the recent upswing in the upstream energy complex as traders moved to lock in profits, rather than signalling any meaningful deterioration in underlying supply-demand fundamentals.
15 Sep 2026
Deal velocity was underpinned by reserve thresholds maintaining a CNY 200–300/ton discount against local distribution channels, compelling short-covered converters to replenish depleted inventories.
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Adjustments to offers stayed narrow, with sellers citing thin sales pressure and framing the futures pullback as a temporary technical correction rather than a shift in the broader trend.
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