Industry Insights
NEWS (FREE)
- [economy] Dalian Commodity Exchange: 10 September 2024The 2501 for January 2025 delivery contract on Dalian Commodity Exchange on 10 September 2024 settled as follows: Read more »
- [insight] 10 September 2024 - Shenhua's coal-based PP and PE Auction ResultsTrading activity on the Shenhua Auction Platform mirrored developments on the Dalian Commodity Exchange during the second trading day of the week. Robust performance in the LLDPE futures market boosted buying interest for coal-based cargoes on the platform. Read more »
- [insight] Indonesian major maintained spot PP, PE offers on a firm note amid limited availabilityMeanwhile, trading sentiment in the Indonesian market remains subdued, as buyers adopt a cautious approach in response to a strengthened Rupiah and a sharp decline in crude oil prices. Read more »
- [economy] Indonesia initiates safeguard measures investigation on LLDPE importsInterested parties have a 15-day window from the announcement date to register for participation in the investigation. However, the KPPI has not yet disclosed the specific duration of the investigation. Read more »
NEWS (PAID)
- [insight] China Morning Snapshot – 10 September 2024With a long weekend holiday approaching, Chinese buyers have become more active in negotiating new purchases. However, consistent with the futures market, there has been a noticeably stronger demand for LLDPE compared to PP. Read more »
- [plant] China’s Cangzhou Julong expedited overhaul schedule at PVC plant amid margin compressionCommoPlast reported earlier that poor local demand has dragged the domestic PVC market to the levels last seen in late April 2020 when the pandemic triggered a widespread lockdown. Read more »
- [insight] Chinese PVC market resumed falling on weaker buyer engagement, high inventorySpot ethylene PVC has fallen below the historical lows reported in late April 2020, triggering expectations that PVC producers might voluntarily suspend operations to protect the bottom line. Read more »
- [insight] Vietnamese producer maintains stable PP, PE offers after holiday break despite crude oil weaknessThe producer started up the petrochemical complex in mid to late August and have been actively offering both PP and PE cargoes to local and international markets. Read more »
MARKET (WEEKLY)
- [economy] Dalian Commodity Exchange: 10 September 2024The 2501 for January 2025 delivery contract on Dalian Commodity Exchange on 10 September 2024 settled as follows: Read more »
- [insight] 10 September 2024 - Shenhua's coal-based PP and PE Auction ResultsTrading activity on the Shenhua Auction Platform mirrored developments on the Dalian Commodity Exchange during the second trading day of the week. Robust performance in the LLDPE futures market boosted buying interest for coal-based cargoes on the platform. Read more »
- [insight] Indonesian major maintained spot PP, PE offers on a firm note amid limited availabilityMeanwhile, trading sentiment in the Indonesian market remains subdued, as buyers adopt a cautious approach in response to a strengthened Rupiah and a sharp decline in crude oil prices. Read more »
- [economy] Indonesia initiates safeguard measures investigation on LLDPE importsInterested parties have a 15-day window from the announcement date to register for participation in the investigation. However, the KPPI has not yet disclosed the specific duration of the investigation. Read more »
MARKET (DAILY)
- [daily] Daily Market Wrap – China – 09 September 2024Local traders are increasingly anxious about meeting their sales targets for September, as buyers remain hesitant to replenish stocks. Many market participants anticipate that the prevailing bearish conditions will compel sellers to make deeper price concessions in the coming weeks. Read more »
- [daily] Daily Market Wrap – China – 06 September 2024The Chinese PE market saw little change in buying activities from the previous trading day, with limited confidence in a near-term recovery. Concerns over potential supply shortages prompted small-scale purchases of LDPE film, but demand for HDPE and LLDPE films remained muted. Read more »
- [daily] Daily Market Wrap – China – 05 September 2024Chinese converters, having restocked a substantial portion of their production needs in recent weeks, shied away from immediate spot cargo. Meanwhile, discussions around forward delivery parcels are active, as buyers prefer farther delivery to ease warehousing and cash flow pressures. Read more »
- [daily] Daily Market Wrap – China – 04 September 2024Despite the bearish sentiment, several Chinese producers, speaking to CommoPlast, emphasized the absence of severe inventory pressure. They pointed out that state-owned giants Sinopec and CNPC managed to sell 70,000 tons or 8.5% of their stocks within just two trading days Read more »
FEED (OPINIONS)
- [Rochelle Nguyen] The Vietnamese homo-PP market demonstrated unexpected strength following the long weekend holiday. Despite the ongoing decline in global crude oil prices, spot homo-PP offers in the local market remained stable to firm, supported by an uptick in inquiries.Morning Briefing - 06 September 2024 Read more »
- [Rochelle Nguyen] In China, renewed concerns over LDPE supply have prompted buyers to return to the market for additional replenishments. Market participants are increasingly worried about a potential squeeze in spot availability next month, as domestic production disruptions coincide with reduced import arrivals.Morning Briefing - 05 September 2024 Read more »
- [Rochelle Nguyen] An aggressive attempt to sharply increase PP and PE prices late last week has backfired for a major Indonesian trading house, as rising market resistance forced the supplier to scale back its price hike targets, highlighting the market's limited capacity to absorb substantial increases at this time.Morning Briefing - 04 September 2024 Read more »
- [Rochelle Nguyen] The Chinese PP and PE markets began the week under pressure, grappling with a convergence of bearish influences, including a sharp drop in crude oil futures, a weakening Dalian Commodity Exchange, and a significantly larger-than-anticipated rise in local inventories.Morning Briefing - 03 September 2024 Read more »
MARKET (DAILY)
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![[daily] Daily Market Wrap – China – 09 September 2024](https://plixstar.com/wp-content/uploads/2022/10/logo-small-commoplast.jpg)
Local traders are increasingly anxious about meeting their sales targets for September, as buyers remain hesitant to replenish stocks. Many market participants anticipate that the prevailing bearish conditions will compel… [...]
The Chinese PE market saw little change in buying activities from the previous trading day, with limited confidence in a near-term recovery. Concerns over potential supply shortages prompted small-scale purchases… [...]
Chinese converters, having restocked a substantial portion of their production needs in recent weeks, shied away from immediate spot cargo. Meanwhile, discussions around forward delivery parcels are active, as buyers… [...]
Despite the bearish sentiment, several Chinese producers, speaking to CommoPlast, emphasized the absence of severe inventory pressure. They pointed out that state-owned giants Sinopec and CNPC managed to sell 70,000… [...]
Market participants had hoped for improved demand in September with the start of the traditional manufacturing season, but bearish macroeconomic signals have dampened sentiment. [...]
The 2501 for January 2025 delivery contract on Dalian Commodity Exchange on 10 September 2024 settled as follows: [...]
Trading activity on the Shenhua Auction Platform mirrored developments on the Dalian Commodity Exchange during the second trading day of the week. Robust performance in the LLDPE futures market boosted… [...]
Meanwhile, trading sentiment in the Indonesian market remains subdued, as buyers adopt a cautious approach in response to a strengthened Rupiah and a sharp decline in crude oil prices. [...]
Interested parties have a 15-day window from the announcement date to register for participation in the investigation. However, the KPPI has not yet disclosed the specific duration of the investigation. [...]
Traders are also closely monitoring upcoming reports from OPEC, the EIA, and the IEA. These reports, scheduled for release later this week, are expected to provide crucial insights into supply-demand… [...]
With a long weekend holiday approaching, Chinese buyers have become more active in negotiating new purchases. However, consistent with the futures market, there has been a noticeably stronger demand for… [...]
CommoPlast reported earlier that poor local demand has dragged the domestic PVC market to the levels last seen in late April 2020 when the pandemic triggered a widespread lockdown. [...]
Spot ethylene PVC has fallen below the historical lows reported in late April 2020, triggering expectations that PVC producers might voluntarily suspend operations to protect the bottom line. [...]
The producer started up the petrochemical complex in mid to late August and have been actively offering both PP and PE cargoes to local and international markets. [...]
Market participants noted that while Chinese producers have been persistent in maintaining stable spot offers despite sluggish demand, the PP sector appears to be under more pressure than PE. [...]
However, the sentiment in Indonesia remained less favorable. The narrowing price gap between local and import cargoes is likely to deter further hikes in import prices, as buyers may shift… [...]
The erratic pricing adjustments, combined with plunging crude oil futures, initially triggered panic among Indonesian buyers. However, as the market settled, trading sentiment gradually recovered. [...]
Looking ahead, regional and international suppliers are expected to maintain a firm stance on import offers to Indonesia, even as shipping costs normalize. The uptick in demand from China and… [...]
Meanwhile, in the nearby Chinese market, buying interest for LLDPE film remained robust, even at elevated price points. The commencement of the agricultural film season, coupled with rising demand from… [...]
PP thermoforming emerged as one of the grades with the shortest supply of ready-stock cargoes. Yet, Indonesian suppliers have not observed any panic buying. On the contrary, offers for this… [...]