China Morning Express: 29 November 2017

January delivery contract on Dalian Commodity Exchange opened with slight rebound trend but hovering at a fluctuating trend toward end of the morning session, with PP futures reduced CNY4/ton ($1/ton) to CNY8899/ton ($1152/ton without VAT). LLDPE futures increased CNY35/ton ($5/ton) to CNY9565/ton ($1239/ton without VAT).

Domestic spot PP in Eastern China stands in the range CNY8900-9100/ton ($‎1153-1178/ton without VAT), a softer trend of CNY50-100/ton ($8-15/ton) compared to yesterday.

Spot LLDPE film traded in Northern China loses CNY50/ton ($8/ton) compared to yesterday, at CNY9600-9750/ton ($‎1243-1263/ton without VAT). All based on EXW China, including VAT, cash term.

Buying activities among converters are slower today, despite slightly better trend for futures market, as most of the buyers have replenished cargoes for the week since past two days. However, some traders still claimed to have achieved some deals at the market low-end prices after offering discounts this morning.