Asia:
Market stable based on the prevailing discussions-
China's demand rises amid the easing of COVID-19 restrictions-
Indian producers withdraw price protection schemesOn
prevailing discussions, Asian low density polyethylene was largely rangebound
during the week to December 7. The ICE February Brent crude oil futures
dropped $3.33/b on the day to $79.36/b by 4:30 PM Singapore time (0830
GMT). According to some Chinese converters, the market may be able to
track short-term volatility but that demand-supply fundamentals play a larger
role in long-term price trends. After China relaxed strict COVID
restrictions, demand rose. Sources said that China's opening of industrial
centers and other activities will bring down demand to normal
levels. India's domestic producers pulled out of price protection programs
they offered last month. This increased confidence in the market. A trader
in India stated that...