China Morning Snapshot – 07 January 2019
China Morning Snapshot – 07 January 2019
LL C4 Film PPH Inj PPH Raf
Dalian Commodity Exchange consistently traded in the green zone throughout the morning session following positive news about the trade talks between China and the USA. This has supported the sentiment in the domestic spot market.
Details on the spot and futures prices are shown in the following table:
|
07 January 2019 |
Prices in CNY |
USD Equivalent |
Changes in CNY |
Changes in USD |
|
|
Dalian Commodity Exchange (Mid-day closing) |
|
||||
|
PP 1905 |
CNY 8734 |
USD 1096 |
+CNY 133 |
+USD19 |
|
|
LLDPE 1905 |
CNY 8660 |
USD 1087 |
+CNY 105 |
+USD15 |
|
|
Spot Domestic Prices (EXW China, Cash equivalent) |
|
|
|||
|
PPH (East China) |
CNY 9100-9200 |
USD 1142-1154 |
+CNY 100 |
+USD15 |
|
|
LLDPE (North China) |
CNY 9050-9200 |
USD 1136-1154 |
+CNY 50 |
+USD7 |
|
|
**All USD equivalent prices are exclusive of 16% VAT |
|
|
|
||
|
Exchange rate: USD 1 = CNY 6.87 |
|||||
Total inventories at Sinopec and CNPC’s warehouses piled up 40,000 tons from last Friday to 680,000 tons as on 07 January 2019.
Transactions during the first half of the trading day are healthy, sources said, which fuel more positive expectation on the market outlook for the week. “Pre-Lunar New Year replenishment is there to support the prices. Besides, there are several unplanned shutdowns taking place. Supply might be capped as a result,” at trader commented.