05 Sep 2023
The concept of “Golden September, Silver October” is further strengthened by the strong upstream costs and reduced sales pressure among local and international sellers.
While auction prices were largely unchanged from the previous session, buyers seemed more willing to place slightly higher bids to secure the cargoes, particularly for homo-PP.
04 Sep 2023
The latest price adjustment seems minor and might not be sufficient to support the maker to attract deals overseas. However, it is understandable.
Sources said the continued lacking ready-stock cargoes is the main factor supporting the firm price decisions from the producer at the moment.
Spot PP and PE offers in the domestic market track a stable trend following an abrupt surge recorded last Friday and interestingly, buyers continue to make small purchases.
Players here seem to be more bullish about the demand outlook in the coming weeks as the market enters the traditional manufacturing season in addition to the government’s latest measures to boost domestic consumption.
31 Aug 2023
Reduced availability stemming from Saudi Arabia’s voluntary oil production cuts starting July is partly responsible for the recent rally.
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