AsiaPP: China's rising prices have a positive effect on
sentiment in the region■ Shanghai opens futures support■ Expected rise in overseas offers: sources





Asia's prices rose over the week ended June
1st due to bullish sentiment and rising domestic Chinese prices. According to a source in
China, prices on China's domestic market have reached a bottom and are moving
up quickly. Over the past week, China's
domestic PP raffia prices rose from Yuan 325-375/mt to Yuan 8,825-8,900/mt. The domestic futures markets strengthened. Stable prices in China for PP (which was denominated as
dollars) were observed during the week. China's
sentiment turned bullish after the COVID-19 lockdowns. The price rise in the futures markets led to a surge in
demand in China for PP. After Shanghai
reopens, it is expected that demand will increase. According to a source in China, this...