10 Sep 2020
The domestic spot market has been weakening for four consecutive trading days this week regardless of the positive manufacturing data.
Sentiment on Shenhua’s auction platform unexpectedly rebounded this morning resulted in a healthy number of transactions for both PP and PE.
Sources believed that spot offers might have reached the cyclical peak and might extend the softening trend throughout the remainder of the week in order to draw buyers back to the market.
09 Sep 2020
Sources believed that the latest hike mostly reflects the lower inventories pressure among overseas sellers, while demand started to stagnant.
Due to the plunge in the upstream energy complex, Chinese bidders withdraw to the sideline to avoid potential price risks.
Chinese players continue to wait on the sideline following the plunge in the energy market, creating a rather sluggish sentiment in the domestic spot market.
Don't have an account? Register