China Morning Snapshot: 19 January 2018

May delivery contracts for both PP and PE poses fluctuating trend around weaker stance throughout the morning session. LLDPE futures reduced CNY15/ton ($2/ton) to CNY9825/ton ($1312/ton without VAT) while PP contract dropped CNY4/ton ($1/ton), reaching CNY9419/ton ($1258/ton without VAT).

Eastern China market poses stable trend compared to yesterday, with spot homo-PP stands in the range CNY‎‎9350-9400/ton ($‎1249-1255/ton without VAT), EXW China, cash equivalent.

Meanwhile, LLDPE film offers in Northern China reduced CNY50/ton ($8/ton) at CNY9700-9850/ton ($‎1295-1315/ton without VAT), with the same term.
 

Market sentiment and buying activities are comparatively weak compared to past few days as buyers are mostly on the wait and see stance approaching weekend. Sellers claimed to have difficulties to achieve sales this morning even though discounts and price negotiations are available.