22 Nov 2022
Softer PP and PE offers continue to attract minimum purchasing interest while the worsening COVID-19 outbreak keep market participants on a high alert.
Compared to the previous trading day, Chinese bidders showed better interest in making purchases on the Shenhua Auction Platform.
21 Nov 2022
Besides, market players are also concerned about the subsiding buying sentiment in China and the rising number of COVID-19 infection cases in this market might pressure the market moving forward.
While the downtrend is very much expected, market participants started to raise the possibility that the eight-months bear run might have found the bottom
A key Indonesian producer has opened a fresh price list to local buyers with moderate increases on PP cargoes after last week’s steep reductions that help the maker, and other local sellers to deplete the on-hand stocks.
Sellers rush to offer discounts on spot cargoes to entice buying interest, still, many traders reported dwindling transactions throughout the morning session.
Sales for homo-PP nosedived from the previous session even though Shenhua agreed to CNY180/ton discounts on deals.
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