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China Morning Snapshot – 05 January 2021China Morning Snapshot – 05 January 2021 |
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Dalian Commodity Exchange for both PP and PE opened at a firm note and retreated slightly toward the end of the morning session.
Details on the spot and futures prices are shown in the following table:
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05 January 2021 |
Prices in CNY |
USD Equivalent |
Changes in CNY |
Changes in USD |
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Combined and reported by CommoPlast |
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Dalian Commodity Exchange (Mid-day closing) |
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PP 2105 |
CNY 7978 |
USD 1091 |
-CNY 22 |
-USD 3 |
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LLDPE 2105 |
CNY 7710 |
USD 1055 |
+CNY 20 |
+USD 3 |
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Spot Domestic Prices (EXW China, Cash equivalent) |
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PPH (East China) |
CNY 8100-8300 |
USD 1108-1135 |
+CNY 50 |
+USD 8 |
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LLDPE (North China) |
CNY 7750-7950 |
USD 1060-1087 |
+CNY 50 |
+USD 8 |
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**All USD equivalent prices are exclusive of 13% VAT |
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Total inventories at Sinopec and CNPC’s warehouses reduced 35,000 tons from the previous day to 670,000 tons as of 05 January 2021. (Correction: Total stocks were at 705,000 tons on 4 January 2020. The previous Snapshot reported at 725,000 tons.)
Sentiment in the local ground remains healthy as more buyers become active in making replenishment in preparation for the Lunar New Year holidays. Sources said that the local ground might continue to improve in the coming week before manufacturers once again winding down operating rates.
“We are trying to reduce the stock on hand as much as possible now that demand is recovering. Buyers could suspend purchases toward the end of the month,” a trader informed.
Country
China
