21 Nov 2022
A key Indonesian producer has opened a fresh price list to local buyers with moderate increases on PP cargoes after last week’s steep reductions that help the maker, and other local sellers to deplete the on-hand stocks.
Sellers rush to offer discounts on spot cargoes to entice buying interest, still, many traders reported dwindling transactions throughout the morning session.
Sales for homo-PP nosedived from the previous session even though Shenhua agreed to CNY180/ton discounts on deals.
18 Nov 2022
The good news is customers are coming back to make replenishment as the current prices are way more competitive than imported materials even from non-dutiable origins.
The primary focus of the market on the final trading day of the week is the list of companies the US put under secondary sanction for dealing with Iranian cargoes.
Chinese bidders returned to the market to make replenishment on the Shenhua Auction platform as the producer agreed to CNY40-50/ton discount from the previous session.
17 Nov 2022
Trading activities are weak even after the discounts, though the manageable inventory levels allow sellers to limit any price reductions.
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