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China Morning Snapshot – 07 March 2019China Morning Snapshot – 07 March 2019 |
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The Dalian Commodity Exchange did not sustain the firming trend portray in the previous trading day. Both PP and LLDPE contract for May delivery slipped back to the negative zone this morning.
Details on the spot and futures prices are shown in the following table:
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07 March 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 8829 |
USD 1133 |
-CNY 79 |
-USD 12 |
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LLDPE 1905 |
CNY 8725 |
USD 1119 |
-CNY 25 |
-USD 4 |
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Spot Domestic Prices (EXW China, Cash equivalent) |
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PPH (East China) |
CNY 8850-8900 |
USD 1135-1142 |
-CNY 50-100 |
-USD 7-15 |
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LLDPE (North China) |
CNY 8750-8850 |
USD 1122-1135 |
-CNY 50 |
-USD 7 |
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**All USD equivalent prices are exclusive of 16% VAT |
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Exchange rate: USD 1 = CNY 6.72 |
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Total inventories at Sinopec and CNPC’s warehouses reduced 15,000 tons from yesterday to 920,000 tons as on 07 March 2019.
Sentiment in the local ground remains steady with buyers continue seeking cargoes priced at the lower end of the overall price range. However, the aggressiveness seems eased.
Country
China
