25 Oct 2022
Comfortable PP supply amid the persistently weakening Dalian Commodity Exchange weighs on the market sentiment.
24 Oct 2022
The drastic surge in import arrival is attributed to the active replenishment activities in August when major international suppliers decided to slash prices to unload larger quantities to this market.
Due to the ongoing maintenance shutdown at two out of three LLDPE lines, the producer does not allocate any quantity of this grade to the Indonesian market.
There have not been any major improvements in the domestic China market as players take a step back to assess the impact of the cabinet reshuffle on the market.
The weak end-product demand is expected to cap the potential upside of the market in the near term.
Meanwhile, buyers focus on a totally different set of September data. The export growth weakened to 5.7% in September from 7.1% in August while retail sales slumped as consumers braced for more lockdowns.
Chinese bidders are rather enthusiastic about the better-than-expected GDP data in September
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