13 Oct 2022
Traders rush to offer discounts even though the Yuan depreciates sharply against the US dollar, in anticipation of a persistently weak demand condition ahead.
Trading sentiment on the Shenhua auction platform remains stale toward the end of the week as bidders started to lose confidence in the near-term outlook after the government reiterated the Zero-Covid policies.
11 Oct 2022
The increases coupled with the depreciation of the local currencies and the lingering lethargic end-product demand push buyers here to the sidelines.
The plunging Dalian Commodity Exchange, the flare-up of COVID-19 infection cases in Northern China and renewed anti-COVID measures in megacities including Shenzhen and Xian all come together to erode the demand outlook.
Chinese bidders seem losing purchasing appetite right on the second trading day of the week after the futures market took a dive by the end of the morning session.
10 Oct 2022
Sources said that prices in the distribution market remain more competitive and given the soft end-product businesses, there is no rush in proceeding with new purchases at the moment.
Compared to homo-PP, Chinese buyers have not been able to stock up as much LLDPE film cargoes as they would normally do at this point of the year, partly due to the lack of availability from Middle Eastern suppliers
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