RMB market has continued to fluctuate

Jul 28, 2023

Currently, in the domestic market, the overall operating rate is low. In terms of demand, downstream operating rates and procurement pace are both at low levels. The demand for agricultural films and other products are also in a slack season, so RMB market continues to fluctuate. In the short term, this fluctuation pattern is difficult to change and will only slightly affect the imported PE market. Additionally, coupled with the previously mentioned exchange rate and balancing the price spread between the RMB market and CFR China market, CFR China market is expected to continue to be weak.

There has been a continuous depreciation of the RMB
The export volume of polyester yarn declined

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