22 Feb 2022
Chinese bidders are more confident in making purchases on the second trading day of the week following signs that the market might be heading for stabilization.
In India, responses from the market are mediocre, however, players do not expect any major hurdle for the maker to deplete the cargoes given the smaller allocation.
While local producers lifted the price lists slightly to reflect the strong crude oil market, the actual trading sentiment remains sluggish.
21 Feb 2022
Chinese bidders continue to show weak buying appetite on the first trading day of the week even at lower price levels.
Looking forward, a number of buyers expected the import HDPE and LLDPE film offers to reach the $1400/ton threshold to reflect the rising ethylene costs.
In the week ending 18 February 2022, propylene CFR China gained $15/ton due to supply tightness following a series of crackers cutting operating rates and the fire incident in South Korea’s YNCC.
The new price list prompted traders to maintain a firmer stance on both PP and PE offers in the distribution market, shrugging off the persistently weak demand condition.
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