China Morning Snapshot: 28 December 2017

Futures contract on Dalian Commodity Exchange poses firmer trend for morning session. May delivery contract for LLDPE gained CNY5/ton ($1/ton) to CNY9775/ton ($1281/ton without VAT) while PP contract firmed up CNY39/ton ($6/ton), reaching CNY9130/ton ($1197/ton without VAT).

Eastern China market stayed stable to CNY50-100/ton ($8-15/ton) firmer day on day, with spot homo-PP stands in the range CNY‎9150-9300/ton ($1199-1219/ton without VAT), EXW China, cash equivalent.

Similarly, LLDPE film offers in Northern China remained largely stable at CNY9500-9750/ton ($1240-1272/ton without VAT), with the same term.

Entering final trading day of the year, spot market sentiment remained slow with players carrying holiday mood. Converters are showing no excitement for higher price level, claiming comfortable stock on hand from previous purchases. Domestic producers voicing sell idea on firmer stance for next week due to low inventory pressure.