China Morning Snapshot: 24 January 2018

May delivery contracts for both PP and PE fluctuate within morning session. LLDPE futures increased CNY10/ton ($2/ton) to CNY9910/ton ($1326/ton without VAT) while PP contract firmed up CNY38/ton ($6/ton), reaching CNY9517/ton ($1273/ton without VAT).

Spot homo-PP offers in Eastern China remain largely stable in the range of CNY‎‎9400-9500/ton ($‎1257-1271/ton without VAT), EXW China, cash equivalent.

Meanwhile, LLDPE film offers in Northern China also rollover at CNY9700-9850/ton ($‎1297-1317/ton without VAT), with the same term.

Market movements remain largely unchanged as compared to yesterday, as converters are mostly on the cautious stance, meanwhile replenishing cargoes on minimal basis. Sellers claimed to have difficulties on achieving deals with overall weak atmosphere in the morning.