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China Morning Snapshot – 15 March 2021China Morning Snapshot – 15 March 2021 |
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Both PP and LLDPE contracts on Dalian Commodity Exchange opened the new week on a strong note, but shred some of the gains toward the mid-day closing.
Details on the spot and futures prices are shown in the following table:
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15 March 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 9401 |
USD 1278 |
+CNY 26 |
+USD 4 |
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LLDPE 2105 |
CNY 9020 |
USD 1226 |
+CNY 10 |
+USD 2 |
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Spot Domestic Prices (EXW China, Cash equivalent) |
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PPH (East China) |
CNY 9450-9550 |
USD 1285-1298 |
+CNY 100 |
+USD 15 |
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LLDPE (North China) |
CNY 8850-9200 |
USD 1203-1251 |
+CNY 100 |
+USD 15 |
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**All USD equivalent prices are exclusive of 13% VAT |
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Throughout the weekend, total stocks at Sinopec and CNPC’s warehouses accumulated 50,000 tons to 945,000 tons as of 15 March 2021.
Buyers shrugged off the fact that the near-term outlook would remain firm as suppliers are not facing inventory pressure and continue to focus on the export ground. Transactions remain sluggish during the early hours of the first trading day of the week after news that several local producers have postponed the maintenance shutdown schedule due to healthy profit margins.
Country
China
