China Morning Snapshot – 13 June 2018

Dalian Commodity Exchange halts the firming trend that has been in place since the beginning of the week. September delivery contract finished the first half of the trading day losing CNY38/ton ($6/ton) to CNY9365/ton ($1261/ton without VAT). LLDPE contract slipped CNY75/ton ($12/ton) to CNY9265/ton ($1248/ton without VAT).   

Transactions in domestic spot ground immediately responded to the fall in futures trading and in spite of stable offers for both PP and PE, traders are portraying the strong willingness to negotiate with serious buyers. 

In Eastern China, spot homo-PP stands in the range CNY9300-9350/ton ($1253-1259/ton without VAT), EXW China, cash equivalent.

In Northern China, spot LLDPE film is reported at CNY9300-9400/ton ($1253-1266/ton without VAT) with the same term.