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China Morning Snapshot – 30 July 2021China Morning Snapshot – 30 July 2021 |
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Dalian Commodity Exchange continues to advance on the final trading day of the week with supports from the crude oil markets.
Details on the spot and futures prices are shown in the following table:
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30 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 8595 |
USD 1177 |
+CNY 71 |
+USD 11 |
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LLDPE 2109 |
CNY 8320 |
USD 1140 |
+CNY 40 |
+USD 6 |
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Spot Domestic Prices (EXW China, Cash equivalent) |
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PPH (East China) |
CNY 8550-8650 |
USD 1171-1185 |
+CNY 50 |
+USD 8 |
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LLDPE (North China) |
CNY 8250-8400 |
USD 1130-1151 |
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 fell 10,000 tons from the previous trading day to 645,000 tons as of 30 July 2021.
There are limited movements in the domestic spot market as local producers stop offering for month-end. On the Shenhua auction platform, there are only two off-grade PP cargoes available.
Chinese traders are optimistic about the market outlook in the first half of August citing the lack of import arrivals and low inventories pressure among local suppliers. Meanwhile, traders are monitoring the export market to seize any opportunity that arises.
Country
China
