Vietnamese homo-PP market near five-month lows as Chinese cargoes breached below $1000/ton mark

11 May 2023 Following three consecutive weeks of sharp decline, the import homo-PP market in Vietnam is now at the lowest levels in nearly five months with Chinese cargoes spearheading the downtrend

11 May 2023

China Morning Snapshot – 11 May 2023

There has not been major improvement in trading sentiment in the domestic spot market, yet suppliers refused to offer larger discounts on both PP and PE cargoes.

11 May 2023

11 May 2023 - Shenhua's coal-based PP and PE Auction Results

Chinese bidders seem shying away from the market given the bleak near-term outlook and the lack of support to keep prices afloat with the end product businesses dimming.

10 May 2023

China Morning Snapshot – 10 May 2023

Some traders resorted to offering forward selling cargoes at discounted price levels to entice demand. The selling strategy worked in the previous week but is no longer effective at the time of this report.

10 May 2023

10 May 2023 - Shenhua's coal-based PP and PE Auction Results

The recent theme of sourcing need basis continued, this time for homo-PP showcasing the stringent approach by market players despite the grade being CNY10/ton lower than the last session.

09 May 2023

China Morning Snapshot – 09 May 2023

Purchasing activities weaken visibly compared to the previous session, still, Chinese producers refused to offer larger price cuts considering the reduced inventory pressure.

09 May 2023

09 May 2023 - Shenhua's coal-based PP and PE Auction Results

Trading sentiment on the Shenhua auction platform struggles to regain momentum on the second trading day of the week with disappointing sales results for both homo-PP and LLDPE cargoes.

08 May 2023

Price List: China’s Zhongjing continues to cut PP export offers

The producer credited the underwhelming prices to the sluggish local market in China as buyers here prefer to stay on the sideline while key contracts on Dalian Commodity Exchange extend the downtrend.

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