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China Morning Snapshot – 01 February 2021China Morning Snapshot – 01 February 2021 |
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Major contracts on Dalian Commodity Exchange concluded the morning session in the negative territory, following the slide on the energy complex.
Details on the spot and futures prices are shown in the following table:
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01 February 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 8200 |
USD 1129 |
-CNY 82 |
-USD 13 |
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LLDPE 2105 |
CNY 7900 |
USD 1087 |
-CNY 70 |
-USD 11 |
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Spot Domestic Prices (EXW China, Cash equivalent) |
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PPH (East China) |
CNY 8300-8500 |
USD 1142-1170 |
-CNY 50 |
-USD 8 |
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LLDPE (North China) |
CNY 7900-8150 |
USD 1087-1122 |
Stable |
Stable |
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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 piled up 145,000 tons from last Friday to 605,000 tons as of 01 February 2021.
Sentiment in the local ground is soft during the early trading hours of the first trading day of the month.Buyers including manufacturers and arbitrage traders are waiting on the sideline for clearer market direction as downstream operating rates reduced.
Sources said that logistics are tightened amid the lack of track drivers and strict inter-province crossing. Cargoes purchased this week might only be delivered after the holidays.
Country
China
