China Morning Snapshot: 26 February 2018

Dalian Commodity Exchange opened with firm note, however retreated toward the second half of the morning session. May delivery contract for LLDPE decreased CNY10/ton ($2/ton) at CNY9565/ton ($1294/ton without VAT). Meanwhile, PP contract loses CNY94/ton ($15/ton), reaching CNY9216/ton ($1246/ton without VAT).

Homo-PP in Eastern China poses stable to CNY100/ton ($15/ton) softer compared to last Friday, stands in the range CNY‎‎‎9050-9100/ton ($‎‎1224-1231/ton without VAT). In Northern China, LLDPE film stayed stable to CNY50/ton ($15/ton) decreased at CNY9350-9500/ton ($‎‎1264-1285/ton without VAT), all based on EXW China, cash equivalent.

Overall market sentiment today is considered average, whereby buyers are willing to place some orders at market’s low end prices after discounts. Meanwhile some traders claimed to have weak sales this morning due to softer futures market trend. However, mulch film makers in Northern China has gradually returned to the market since end of last week, as more deals are concluded among converters.