15 Aug 2022
Most Chinese suppliers have been focusing on the domestic market for a couple of months now as the rapid price deterioration overseas contrast to the steady local ground keeps the export window closed.
In the meantime, Indonesian customers have mostly replenished the needed quantities in the previous week and prefer to maintain a cautious stance as end-product businesses have not improved significantly.
Chinese buyers prefer to hold a cautious stance during the early trading hours to process the latest economic data, which showed 2.7% growth in retail sales in July, down from 3.1% in June.
11 Aug 2022
After bumping into stiff resistance on the previous trading day, Shenhua decided to lower deal prices by CNY50/ton from the previous session to draw buyers back to the auction session.
Major contracts on Dalian Commodity Exchange ended the morning session mixed, though the changes are limited ahead of the expiration of the September contract.
10 Aug 2022
Trading sentiment on the Shenhua auction platform fell sharply from the previous session even after the producer agreed to CNY50/ton discount on homo-PP cargoes.
Export-oriented converters are now focusing on the local market to compensate for the falling overseas demand, resulting in a heightened competition that put many in a difficult situation.
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