China Morning Express: 09 November 2017

PP futures for January delivery ended the morning session with decrease of CNY155/ton ($23/ton) from the previous session, reaching CNY9082/ton ($1169/ton without VAT).

Same contract for LLDPE concluded the session at CNY9825/ton ($1265/ton without VAT), reduced CNY105/ton ($16/ton).

PP spot market in East China at CNY9000-9250/ton ($‎1158-1191/ton without VAT), dropped CNY100/ton ($15/ton) as compared to yesterday.

LLDPE film spot market in North China at CNY9700-9900/ton ($‎1249-1274/ton without VAT), CNY100/ton ($15/ton) decreased as compared to yesterday.

Futures market traded at weak note since opening time in the morning, offers for spot cargoes in domestic market retreated with more sellers offering discounts, however, trading activities are weaker. Players are expecting for some price corrections in the near term as profit margin among converters get narrower with recent high raw material prices.