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Uncertainty returns on the Chinese market | South Korea's truckers have ended their strike following a tentative agreement with the government regarding prices

Jun 16, 2022

-  Uncertainty
returns on the Chinese market- South Korea's truckers have ended their strike
following a tentative agreement with the government regarding prices 



that were mixed on the Asian polypropylene
markets on June 15 due to China's pandemic-led curbs that hampered the
country's economic recovery. The
prompt domestic cargoes of East China fell from Yuan 200/mt to Yuan 8,700/mt
over the week. China's economic recovery
seems to be slowing down, as domestic prices fell in the week after news of
some restrictions being reimposed in Beijing/Shanghai. Investors are cautious because of uncertainty in the market
regarding government measures. One
producer stated that "Downstream prices cannot move any higher and high
crude oil and freight prices are hampering exports, especially to Southeast
Asia, where prices are already low." The
country's operation rates are estimated to average...

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