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Futures contract on Dalian Commodity Exchange loses steam this morning after significant hike yesterday. May delivery contract for LLDPE slipped CNY35/ton ($5/ton) to CNY9950/ton ($1306/ton without VAT) while PP contract reduced CNY4/ton ($1/ton), reaching CNY9483/ton ($1245/ton without VAT).

Eastern China market stayed stable to CNY50/ton ($8/ton) weaker day on day, with spot homo-PP stands in the range CNY‎9300-9400/ton ($1221-1234/ton without VAT), EXW China, cash equivalent.

Similarly, LLDPE film offers in Northern China remained largely stable at CNY9800-9900/ton ($1287-1300/ton without VAT), with the same term.

Some local producers insisted on firm stance for their price list offers this morning, with some tried to implement CNY50/ton ($8/ton) hike for both PP and PE, however, facing strong resistance especially from converters, whereby most of them are still on the wait and see stance. Several traders claimed to have achieve no deals in the morning even though they are willing to offer softer prices compared to producers.