China Morning Snapshot - 05 December 2018
China Morning Snapshot - 05 December 2018
LL C4 Film PPH Raf
Dalian Commodity Exchange for both PP and LLDPEposes firm trend throughout the morning session.
Details on the spot and futures prices are shown in the following table:
|
05 December 2018 |
Prices in CNY |
USD Equivalent |
Changes in CNY |
Changes in USD |
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|
Dalian Commodity Exchange (Mid-day closing) |
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|
PP 1901 |
CNY 9142 |
USD 1149 |
+CNY 82 |
+USD12 |
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|
LLDPE 1905 |
CNY 8420 |
USD 1058 |
+CNY 25 |
+USD4 |
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|
Spot Domestic Prices (EXW China, Cash equivalent) |
|
|
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|
PPH (East China) |
CNY 9500-9700 |
USD 1194-1219 |
+CNY 200-300 |
+USD29-43 |
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|
LLDPE (North China) |
CNY 9200-9350 |
USD 1156-1175 |
+CNY 50 |
+USD7 |
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**All USD equivalent prices are exclusive of 16% VAT |
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Exchange rate: USD 1 = CNY 6.86 |
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Total inventories at Sinopec and CNPC’s warehouses digested another 50,000 tons from the previous day to 620,000 tons as on 05 December 2018.
Domestic prices climb for three days in a row and sources informed that the sentiment remains pretty healthy here. “Domestic producers are rather firm now given the lower inventories pressure. This is going to support the import market strongly,” a trader commented.