21 Jul 2021
Although the surge in local production has partly compensated for falling import quantity, the PE consumption in China (calculated by the sum of local production and import, subtract the export quantity) declined for the third consecutive month.
It is reported that the Indonesian government in the circular number PMK No 68/2021 has revived the Bea Masuk Ditanggung Pemerintah (BMDTP) scheme.
Henan houses four ethylene-based PVC plants, which are located outside of the flood area.
Meanwhile, there are no concrete reports on the impact of the recent flood in Henan province on the market.
Chinese bidders are more confident in proceeding with purchases in today’s auction session, resulting in a high number of deals achieved.
20 Jul 2021
Sentiment in the domestic spot market weakens significantly after the large drop in the crude oil market as buyers await additional discounts.
Apparently, spot butadiene in the local China market has surged more sharply than the import’s, putting downstream plants under tremendous cost pressure.
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