China Morning Snapshot – 30 December 2020
China Morning Snapshot – 30 December 2020
Dalian Commodity Exchange regains some strength this morning after four consecutive falling sessions. However, PP contracts appear stronger than LL at the moment.
Details on the spot and futures prices are shown in the following table:
|
30 December 2020 |
Prices in CNY |
USD Equivalent |
Changes in CNY |
Changes in USD |
|
Combined and reported by CommoPlast |
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|
Dalian Commodity Exchange (Mid-day closing) |
||||
|
PP 2105 |
CNY 7980 |
USD 1081 |
+CNY 33 |
+USD 5 |
|
LLDPE 2105 |
CNY 7540 |
USD 1022 |
-CNY 40 |
-USD 6 |
|
Spot Domestic Prices (EXW China, Cash equivalent) |
||||
|
PPH (East China) |
CNY 8000-8150 |
USD 1084-1105 |
Stable |
Stable |
|
LLDPE (North China) |
CNY 7550-7850 |
USD 1023-1064 |
-CNY 50 |
-USD 8 |
|
**All USD equivalent prices are exclusive of 13% VAT |
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Total inventories at Sinopec and CNPC’s warehouses reduced 20,000 tons day-on-day to 585,000 tons as of 30 December 2020.
The local market inches slightly lower this morning while purchasing activities remain thin. Sources informed that customers would like to remain on the sideline throughout this week, yet there is a possibility that buying sentiment would improve after the holidays.