27 Dec 2021
Sources believed that the window for sellers to push prices higher might be narrow as trading sentiment might soften once previously purchased cargoes arrive on the Indonesian shore in the first half of January.
The hikes in spot PP cargoes are attributed to the limited ready-stock cargoes in the local ground, however, buyers are not responding positively toward the new price list, especially when a large part of the market has taken off for the holiday.
Sellers have mostly concluded businesses for the year. Although the sentiment is not all bullish, traders are hopeful for better sentiment once the market reopens after the New Year holiday.
24 Dec 2021
Transactions remain healthy on the Shenhua auction platform on the final trading day of the week with deal prices gain CNY100/ton from the earlier this week.
Several other buyers reportedly placed bids at $1050-1060/ton CFR China, which were outrightly rejected by the supplier.
This is the first time since 10 February 2021 the local stock fell below the 600,000 tons threshold, signalling the steady demand in this market.
23 Dec 2021
Sources said that the company has been allocating smaller quantities to the auction after achieving annual sales targets.
Don't have an account? Register