China Morning Snapshot – 23 April 2018

Dalian Commodity Exchange ended the morning session without any breakthrough news. September delivery contract for PP fell CNY81/ton ($13/ton) from the previous day to CNY8840/ton ($1201/ton without VAT). LLDPE contract, in contrast, gain CNY45/ton ($7/ton) to close at CNY9185/ton ($1248/ton without VAT).

Sentiment in the domestic spot market is rather weak as many players are away for the ChinaPlas Exhibition. Traders are offering CNY50/ton reduction on both PP and PE cargoes to encourage purchases, however, limited transaction observed.

Homo-PP traded in Eastern China in the range CNY8800-8900/ton ($‎1196-1209/ton without VAT), EXW China, cash equivalent.

Spot LLDPE film offered in Northern China at CNY‎‎9350-9600/ton ($‎1271-1304/ton without VAT) with the same term.