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China Morning Snapshot – 19 April 2021China Morning Snapshot – 19 April 2021 |
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Main contracts on Dalian Commodity Exchange switched to September delivery, with limited movement throughout the morning session.
Details on the spot and futures prices are shown in the following table:
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19 April 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 2109 |
CNY 8616 |
USD 1169 |
+CNY 19 |
+USD 3 |
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LLDPE 2109 |
CNY 8370 |
USD 1136 |
-CNY 20 |
-USD 3 |
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Spot Domestic Prices (EXW China, Cash equivalent) |
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PPH (East China) |
CNY 8800-8950 |
USD 1194-1215 |
-CNY 50 |
-USD 8 |
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LLDPE (North China) |
CNY 8350-8650 |
USD 1133-1174 |
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 piled up 30,000 tons from last Friday to 905,000 tons as of 19 April 2021.
There have not been any major movement in the domestic spot market during the early trading hours of the week, though buyers maintain a cautious stance hoping to achieve further discount before the holidays.
“Transactions are thin throughout the morning session. Customers are waiting on the sideline after news that the international market is slowing down, which could force sellers to step back on the prices moving forward,” a market source added.
Country
China
