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China Morning Snapshot – 09 January 2019China Morning Snapshot – 09 January 2019 |
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Dalian Commodity Exchange climbed to the positive zone this morning, however, the extent of the price recovery remains range bound.
Details on the spot and futures prices are shown in the following table:
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09 January 2019 |
Prices in CNY |
USD Equivalent |
Changes in CNY |
Changes in USD |
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Dalian Commodity Exchange (Mid-day closing) |
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PP 1905 |
CNY 8711 |
USD 1096 |
+CNY 42 |
+USD6 |
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LLDPE 1905 |
CNY 8630 |
USD 1086 |
+CNY 10 |
+USD1 |
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Spot Domestic Prices (EXW China, Cash equivalent) |
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PPH (East China) |
CNY 9150-9250 |
USD 1151-1164 |
Stable |
Stable |
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LLDPE (North China) |
CNY 9050-9250 |
USD 1139-1164 |
Stable |
Stable |
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**All USD equivalent prices are exclusive of 16% VAT |
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Exchange rate: USD 1 = CNY 6.85 |
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Total inventories at Sinopec and CNPC’s warehouses reduced 35,000 tons from yesterday to 580,000 tons as on 09 January 2019.
Trading activities in local ground are relatively more active than the import ground, sources reported. Many customers are asking for parcels to be delivered after the Lunar New Year holiday, which could potentially hurts the demand for import cargoes, however, seller are still on a watch out mode.
Country
China
