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China Morning Snapshot – 15 June 2021China Morning Snapshot – 15 June 2021 |
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Dalian Commodity Exchange PP and PE opened with a firm note but retreated throughout the morning session.
Details on the spot and futures prices are shown in the following table:
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15 June 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 8154 |
USD 1127 |
-CNY 30 |
-USD 4 |
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LLDPE 2109 |
CNY 7635 |
USD 1056 |
-CNY 10 |
-USD 2 |
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Spot Domestic Prices (EXW China, Cash equivalent) |
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PPH (East China) |
CNY 8300-8500 |
USD 1148-1175 |
Stable |
Stable |
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LLDPE (North China) |
CNY 7650-7950 |
USD 1058-1099 |
+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 piled up 90,000 tons from last Friday to 780,000 tons as of 15 June 2021. Players said the accumulation for 3 days holiday is within expectations.
There is limited movement on the first trading day of the week as players await important announcements from the Production Safety Conference in Beijing, which could impact both upstream and downstream productions.
“Buyers did not immediately ask for discounts, but rather wait on the sideline. The inventory accumulation is not too high, which could support the market from any major swing moving forwards,” a trader reported.
Country
China
