China Morning Snapshot: 15 December 2017

The morning session on Dalian Commodity Exchange fluctuated within weak ranges. Both PP and LLDPE contracts for May delivery reduced CNY86/ton ($13/ton) and CNY45/ton ($7/ton) respectively. PP closes the first half of the trading day at CNY8972/ton ($1160/ton without VAT) while LLDPE at CNY9530/ton ($1232/ton without VAT).       

Spot PP in Eastern China stands in the range CNY9000-9150/ton ($‎‎1164-1183/ton without VAT), a CNY100-150/ton ($15-23/ton) softer than yesterday, meanwhile spot LLDPE film traded in Northern China at CNY9500-9650/ton ($‎‎1228-1248/ton without VAT), remain largely stable as compared to yesterday. All based on EXW China, including VAT, cash term.

Market sentiment remain weak approaching end of the week, whereby buyers mostly on the sideline wait and see, as futures market hovering around soft trend as well. Sellers claimed to have more difficulties to sell as some unable to achieve even a deal throughout this morning.