19 Jul 2022
Chinese bidders continue to scoop up most of the available homo-PP cargoes on the Shenhua auction platform on the second trading day of the week.
Buyers across Asia are citing the availability of more competitive cargoes that make the $200-plus reductions from the Taiwanese producer appear insignificant.
Chinese buyers have been raising concerns over the possibility that overseas sellers might allocate more cargoes to China now that demand from all other key importing markets is deteriorating rapidly.
As expected, local suppliers started to introduce a firmer stance on spot PP and PE cargoes on the expectations that the futures market would continue to track the uptrend in the coming days.
18 Jul 2022
Trading activities on the Shenhua auction platform are surprisingly strong on the first trading day of the week
Zhongjing Petrochemical has once again down-adjusted export homo-PP offers by $25/ton amid the plunging overseas market while the domestic ground shows no sign of improvement.
Indonesian customers said that the local market has been retaining an extravagant premium over imports for weeks on the back of the exchange rates.
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