China Morning Snapshot – 17 January 2019
China Morning Snapshot – 17 January 2019
LL C4 Film PPH Raf
Dalian Commodity Exchange extended firm trend throughout the morning session. Details on the spot and futures prices are shown in the following table:
|
17 January 2019 |
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 8788 |
USD 1121 |
+CNY 81 |
+USD 12 |
|
|
LLDPE 1905 |
CNY 8700 |
USD 1109 |
+CNY 90 |
+USD 13 |
|
|
Spot Domestic Prices (EXW China, Cash equivalent) |
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|
PPH (East China) |
CNY 9150-9250 |
USD 1167-1180 |
Stable |
Stable |
|
|
LLDPE (North China) |
CNY 9000-9150 |
USD 1148-1167 |
Stable |
Stable |
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|
**All USD equivalent prices are exclusive of 16% VAT |
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Exchange rate: USD 1 = CNY 6.76 |
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Total inventories at Sinopec and CNPC’s warehouses reduced 35,000 tons from yesterday at 530,000 tons as on 17 January 2019.
Market sentiment is slow whereby buyers mostly already replenished sufficient cargoes since past few days. Meanwhile, some traders claimed that they still able to conclude some deals today as some customers are placing final round of orders. Players are expecting for significantly slower market trend by next week onward approaching Lunar New Year long holidays.