03 Mar 2022
Chinese bidders remain active toward the end of the week thanks to the strong futures market.
Market sources expressed the concerns that production outputs might also weaken in March amid the rising input costs that forced several naphtha-based or PDH-based producers to cut operating rates.
Earlier this week, there have been reports that the maker has successfully started up the newly constructed No. 4 PVC plant in Cilegon with an annual capacity of 200,000 tons/year.
After two consecutive days of strong gains, the local market in China remains far more competitive than import offers in the nearby Southeast and South Asia
02 Mar 2022
The number of transactions on the Shenhua auction platform remains strong on the second trading day of the week following the drastic increase in crude oil prices.
Over the past couple of trading days, local inventories have been steadily decreasing thanks to the revived risk appetite among arbitrage traders following the rebound on Dalian Commodity Exchange.
Undeniably, the cost-push is strong for PP producers. While the domestic spot PP market embarks on what seems to be a break from the persistent uptrend, there are limited supports for any major downswing ahead.
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