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China Morning Snapshot – 15 January 2021China Morning Snapshot – 15 January 2021 |
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Dalian Commodity Exchange ended the morning session with little changes from the previous day. Sentiment remains sluggish amid more lockdowns observed in China.
Details on the spot and futures prices are shown in the following table:
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15 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 7901 |
USD 1081 |
+CNY 5 |
+USD 1 |
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LLDPE 2105 |
CNY 7515 |
USD 1028 |
-CNY 25 |
-USD 4 |
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Spot Domestic Prices (EXW China, Cash equivalent) |
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PPH (East China) |
CNY 8000-8200 |
USD 1094-1122 |
+CNY 50 |
+USD 8 |
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LLDPE (North China) |
CNY 7600-7800 |
USD 1040-1067 |
+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 15,000 tons day on day to 570,000 tons as of 15 January 2021.
The local market becomes more active than the previous day despite the sluggish futures trading. Suppliers informed of having achieved a good number of deals without much negotiation as buyers gradually accept the higher spot prices to make pre-holiday replenishment.
However, sentiment in Southern China has yet to catch up with other regions in the country. Buyers here are more cautious and prefer to wait on the sideline. The latest development fuels trader’s positive expectation on the near term outlook following weeks of sluggish demand.
Country
China
