21 Jul 2022
Following days of holding above the CNY8000/ton threshold, spot homo-PP yarn traded in Eastern China breached below the mark, reflecting the stiff resistance building up in the market.
20 Jul 2022
For three consecutive sessions, Chinese bidders portray healthy buying interest on the Shenhua auction platform as the producer keeps deal prices largely unchanged
Apparently, Chinese suppliers are not confident enough to keep spot PP and PE prices on the firming track.
19 Jul 2022
Chinese bidders continue to scoop up most of the available homo-PP cargoes on the Shenhua auction platform on the second trading day of the week.
Buyers across Asia are citing the availability of more competitive cargoes that make the $200-plus reductions from the Taiwanese producer appear insignificant.
Chinese buyers have been raising concerns over the possibility that overseas sellers might allocate more cargoes to China now that demand from all other key importing markets is deteriorating rapidly.
As expected, local suppliers started to introduce a firmer stance on spot PP and PE cargoes on the expectations that the futures market would continue to track the uptrend in the coming days.
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