16 Nov 2022
Even though the number of COVID-19 infection cases in China hit the highest levels since the pandemic, market participants continue to bet on easing lockdown measures
Data from CommoPlast suggest that on average, PE film offers gained between $15-30/ton week-on-week, and LLDPE film cargoes priced below the $900/ton threshold have not repeated.
Chinese market participants reported significantly slower trading activities throughout today’s morning session as buyers are mostly done with replenishment
Apparently, demand for LLDPE remains relatively stronger than homo-PP, though, with CNY50/ton discount on deals compared to the previous session did help to attract LLDPE customers.
15 Nov 2022
The rapid uptrend started to face resistance. Local suppliers complained of visible drop in sales since the beginning of this week, hence the reduction in spot PP cargoes.
While the number of transactions for homo-PP has fallen from the previous session, Chinese buyers continue to search for competitive LLDPE cargoes thanks to the firming Dalian Commodity Exchange.
14 Nov 2022
Data from the National Bureau of Statistics showed that the local petchem outputs rose 8.2% compared to September and 10.5% compared to October 2021.
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