Freight rates, which peaked in mid-July following a conspicuous rally that began in early May, have been declining since then, driven by the slump in ex-China routes. Market experts believe that the downturn will persist; however, freight rates will not fall as swiftly as they rose in the past few months given the ongoing port congestion in Asia and the rest of the world as well as other logistics disruptions. So, the question is: Is there a way to return to the levels seen before the Red-Sea crisis?...
In August, import PVC K67 prices have sunk to their lowest levels since May as lackluster downstream demand amid financial challenges and adequate resin supply has dragged prices further down in Türkiye. Players do not expect any major changes in the current market dynamics in the near term, as bearish September projections in Asia have weakened the sentiment. On the other hand, some sellers are hopeful for a slight improvement in demand in September...
The Chinese yuan has begun to strengthen against the dollar over the last month as the greenback has weakened due to growing expectations of potential interest rate cuts in the US. Particularly since early August, the appreciating yuan has been cutting into the profits of Chinese companies seeking growth from exports...
PVC prices in Asia are expected to continue their downtrend in the coming weeks, with most players predicting that a major Taiwanese producer will reduce prices for its September import allocations to regional markets...
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