03 Nov 2022
There are simply no other markets throughout Asia that can absorb the cargo at the moment, hence, sellers have a very limited alternative in attracting deals.
This is because the demand from the downstream petrochemical industry across Asia remains sluggish and many plants in this region are operating at reduced rates, affecting the demand for feeds.
A trader told CommoPlast that import arrival this month would be lower than the previous few months, hence, inventory pressure would be manageable.
Transactions remain satisfactory, but dropped from the previous day, signalling that buyers continue to resist any attempt to increase prices.
27 Oct 2022
Transactions recorded throughout the morning session are largely in small quantities amid the reticence to build stocks.
Chinese bidders showed better acceptance on the Shenhua auction platform toward the end of the week, especially after the producer offered additional discounts on deals.
26 Oct 2022
On the other hand, several other local traders reported having reached the credit limit to open Letter of Credit, hence, might postpone all additional replenishments to further dates.
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