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China Morning Snapshot – 26 July 2021China Morning Snapshot – 26 July 2021 |
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September delivery contracts on Dalian Commodity Exchange settled the morning session in the red as the trading sentiment is affected by the flood that typhoon.
Details on the spot and futures prices are shown in the following table:
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26 July 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 8486 |
USD 1159 |
-CNY 134 |
-USD 21 |
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LLDPE 2109 |
CNY 8225 |
USD 1123 |
-CNY 120 |
-USD 19 |
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Spot Domestic Prices (EXW China, Cash equivalent) |
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PPH (East China) |
CNY 8450-8600 |
USD 1154-1174 |
-CNY 50-100 |
-USD 8-16 |
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LLDPE (North China) |
CNY 8200-8400 |
USD 1120-1147 |
-CNY 50-100 |
-USD 8-16 |
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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 55,000 tons from last Friday to 705,000 tons as of 26 July 2021.
There are limited movement on the first trading day of the week as the market is occupied by the recent flood in central China and the typhoon that forced a number of manufacturers in Eastern China to shut down as a safety measure. Demand is expected to return in the next couple of days, in the meantime, it is likely that spot prices would remain soft.
