China Morning Snapshot - 26 December 2018
China Morning Snapshot - 26 December 2018
LL C4 Film PPH Inj PPH Raf
Supported by the revival in the global equity market, Dalian Commodity Exchange rebounds slightly this morning.
Details on the spot and futures prices are shown in the following table:
|
25 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 1905 |
CNY 8373 |
USD 1048 |
+CNY 92 |
+USD13 |
|
|
LLDPE 1905 |
CNY 8450 |
USD 1057 |
+CNY 30 |
+USD4 |
|
|
Spot Domestic Prices (EXW China, Cash equivalent) |
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|
PPH (East China) |
CNY 8950-9050 |
USD 1120-1132 |
Stable |
Stable |
|
|
LLDPE (North China) |
CNY 9000-9150 |
USD 1126-1145 |
-CNY 50-100 |
-USD7-15 |
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|
**All USD equivalent prices are exclusive of 16% VAT |
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Exchange rate: USD 1 = CNY 6.88 |
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Total inventories at Sinopec and CNPC’s warehouses digested another 25,000 tons from the previous trading day to 610,000 tons as on 26 December 2018.
Domestic producers decided to offer some discounts on LLDPE film in Northern China market as the restart at some local plants after the scheduled maintenance shutdown is easing supply locally. Players are on the watch-out mode, hoping to see some pre-holiday replenishment activities. For now, market movement is rather slow and customers only place small order to satisfy immediate needs.