19 Oct 2022
Major PP and LLDPE contracts on Dalian Commodity Exchange settled the morning session with additional losses as traders are still on a selling spree in anticipation of a bearish near-term outlook.
Chinese buyers continue to wait on the sideline to monitor the outcomes of the Congress Meeting, also for the latest round of COVID-19-related lockdowns to ease.
18 Oct 2022
Chinese buyers reportedly received a fresh price list from the maker with decreases week-on-week, and while responses toward the LDPE film parcels are satisfactory, customers are very much shy away from the LLDPE film cargoes.
18 Oct 2022 SPVC k64-65 SPVC k67-68
The latest price cuts mark the seventh consecutive month of decline. Compared to the cyclical peak recorded in April, the list price from the producers has plunged 47% in Southeast Asia and 49% in India.
Meanwhile, the heavy influx of competitive North American LLDPE film cargoes spook the already edgy buyers.
Paltry demand forced Shenhua to offer CNY50-70/ton discounts on both homo-PP and LLDPE to close deals, but the reductions are obviously insufficient.
17 Oct 2022
Although the downward pressure on the domestic PP market is growing, Zhongjing tends to adopt a conservative stance in making any price adjustments.
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