The Malaysian PP and PE market has experienced a notable rebound, with a leading domestic producer announcing significant price increases for November deliveries. These hikes are largely attributed to the depreciation of the Ringgit
In a notable display of market resilience, a leading Indonesian PVC producer has opted to keep its November pricing unchanged despite ongoing economic challenges, including currency fluctuations and diminishing local demand.
Trading sentiment on the Shenhua Auction Platform saw a slight improvement today, supported by a rebound in futures contracts on the Dalian Commodity Exchange. Additionally, a three-fold drop in auction volumes, attributed to routine month-end closures, helped reduce sales pressure for the coal-based producer.
In the upstream market, key PX and PTA contracts on the Zhengzhou Commodity Exchange have fallen by approximately 12.6% and 11.6% since the Golden Week holiday, further exacerbating the bearish sentiment in the downstream PET sector.
In Indonesia, PP and PE trading activity remains sluggish. After recent replenishment efforts, buyers are now adopting a wait-and-see approach, closely observing both domestic and international political and economic developments to better anticipate potential price shifts towards year-end.