China Morning Express: 09 November 2017
China Morning Express: 09 November 2017

PP futures for January delivery ended the morning session with reduction of CNY48/ton ($7/ton) from the previous session, reaching CNY9139/ton ($1178/ton without VAT).
Same contract for LLDPE concluded the session at CNY9855/ton ($1270/ton without VAT), down CNY25/ton ($4/ton).
PP spot market in East China at CNY9100-9250/ton ($1173-1192/ton without VAT), CNY100/ton ($15/ton) increased as compared to yesterday.
LLDPE film spot market in North China at CNY9800-9900/ton ($1263-1276/ton without VAT), CNY100/ton ($15/ton) increased as compared to yesterday.
Futures market opens at firm note but retreated toward the session closing time. Spot market prices remained firm in the morning, however, overall buying activities among converters these two days were weaker as mostly have replenished since beginning of the week, meanwhile today cargoes takers are mainly traders. There are some slight discount of CNY50/ton ($8/ton) available toward the session closing time due to overall weakened sentiment. Players are taking cautious stance for afternoon trend.