Shenhua wrapped up its first auction session in October with notable success, selling out all available cargoes. This result was largely driven by robust buying activity, spurred by an upswing in futures contracts on the Dalian Commodity Exchange
The local PP and PE markets in Indonesia saw marginal price increases at the start of the week, driven by the depreciation of the Indonesian Rupiah against the US dollar and a cautiously optimistic regional outlook.
Meanwhile, Chinese PET bottle suppliers raised both domestic and export offers earlier this week in response to a more optimistic market outlook. This came after the Chinese government pledged to support the property sector and overall economic growth.
The weaker demand can be attributed to several headwinds, including slowing global economic growth, rising trade tensions between China and Western countries, and sporadic disruptions in the shipping sector.
Saudi oil and gas powerhouse Saudi Aramco has raised official selling prices for liquefied petroleum gas (LPG) to Asia for October loading. This move, widely expected, reflects stronger demand in anticipation of the upcoming winter season.
China’s PVC market witnessed a sharp rebound on the final trading day of September, driven by renewed market confidence following the government’s intensified efforts to revive the struggling property sector and stimulate broader economic growth.