01 Mar 2023
While key PP and LLDPE contracts on Dalian Commodity Exchange increase CNY50/ton, Shenhua keeps auction prices stable from the previous day, creating an attractive window to lure arbitrage traders back to make purchases.
28 Feb 2023
Compared to producers, Chinese traders are carrying more stocks, hence the pressure to sell is relatively intense.
Nevertheless, purchasing activities are not strong enough to deplete the available quantity, and judging by the remaining stocks on the month-end, it is clear that the demand condition is soft.
27 Feb 2023
Last week, the domestic market in China firmed up briefly on bullish expectations that the government would inject more stimulus to boost consumptions. The hype did not last.
Indonesian customers have been looking forwards to the pre-Ramadan demand, however, at the time of this report, only manufacturers in the HDPE bag sector witness a pent-up in demand.
While the stock levels on key producers’ hands seem manageable; Chinese traders find it increasingly challenging to locate warehouse spaces for their parcels.
Trading activities on the Shenhua auction platform softened from the previous session as bidders withdraw to the sidelines following the declines on the Dalian Commodity Exchange that eradicate the price gap between the two platforms.
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