China Morning Snapshot – 28 April 2021
China Morning Snapshot – 28 April 2021
Dalian Commodity Exchange for both PP and PE poses range bound trend throughout the morning session.
Details on the spot and futures prices are shown in the following table:
|
28 April 2021 |
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) |
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|
PP 2109 |
CNY 8568 |
USD 1171 |
+CNY 68 |
+USD 10 |
|
LLDPE 2109 |
CNY 8160 |
USD 1113 |
+CNY 45 |
+USD 7 |
|
Spot Domestic Prices (EXW China, Cash equivalent) |
||||
|
PPH (East China) |
CNY 8700-8800 |
USD 1186-1200 |
Stable |
Stable |
|
LLDPE (North China) |
CNY 8300-8500 |
USD 1132-1159 |
+CNY 50-100 |
+USD 8-15 |
|
**All USD equivalent prices are exclusive of 13% VAT |
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Total inventories at Sinopec and CNPC’s fell 40,000 tons from the previous trading day to 725,000 tons as of 28 April 2021.
Domestic suppliers implemented minor increases on LLDPE film cargoes while maintaining homo-PP prices unchanged from the previous day to reflect the inventory situation. However, transactions are thinner during the early trading hours as buyers negotiate for lower prices.
The market is gradually entering the holiday mood though players are not putting up high hope on the demand condition for the remaining of the week.