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News Insight & Analysis

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Export PP offers from China remain firm amidst stabilized local market and weaker US dollar
21 Aug 2024 In the past week, demand for prompt delivery cargo within China has shown signs of lethargy, with buyers focusing on post-National Day deliveries at discounted rates.
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20 Aug 2024

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Vietnam’s Long Son resumes offering spot PP, PE cargoes amid market uncertainty

Vietnam’s Long Son Petrochemical has resumed offering spot homo-PP and HDPE film to the local market, following the successful restart of its upstream crackers last week. Despite the reentry of this supply, the new offers are struggling to find traction amid challenging market conditions.
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20 Aug 2024

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China Morning Snapshot – 20 August 2024

The persistent decline in the futures market continues to exert downward pressure on the domestic spot market, with trading sentiment remaining tepid. Buyers are holding back on large-scale purchases, instead pushing for deeper discounts.
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20 Aug 2024 Ethylene

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Asian ethylene market leap to multi-month high on tightened supply conditions

Industry insiders also reported a reduced number of US cargoes in recent weeks as the series of production outages in the North American region pushed local prices higher and narrowed the export window to Asia.
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20 Aug 2024

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20 August 2024 - Shenhua's coal-based PP and PE Auction Results

The surge in import LLDPE arrivals has heightened concerns about hidden inventory pressures among local traders, prompting buyers to pull back on their purchases, further dampening market activity.
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19 Aug 2024

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Major Indian producer cut local PVC offers for the second time in August

The Indian PVC market has been under pressure for weeks, exacerbated by the ongoing monsoon season. To stimulate buying interest, the producer has supplemented the price reduction with additional discount schemes and price protection measures.
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19 Aug 2024

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Key Indonesian producer slashed local PP, PE offers on currency exchange

Over the past week, the Rupiah appreciated by about 5% against the US dollar, driven by expectations of the Federal Reserve lowering key interest rates in September. A stronger local currency typically leads to a drop in commodity prices traded in that currency.
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19 Aug 2024

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China Morning Snapshot – 19 August 2024

Meanwhile, several BOPP film and sheet converters reported mediocre end-product demand despite it being the traditionally high-demand season.
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