China Morning Snapshot – 25 June 2021
China Morning Snapshot – 25 June 2021
Major contracts for September delivery ended the morning session in the positive territory, extending the five consecutive gaining days.
Details on the spot and futures prices are shown in the following table:
|
25 June 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) |
||||
|
PP 2109 |
CNY 8507 |
USD 1162 |
+CNY 38 |
+USD 6 |
|
LLDPE 2109 |
CNY 8000 |
USD 1093 |
+CNY 65 |
+USD 10 |
|
Spot Domestic Prices (EXW China, Cash equivalent) |
||||
|
PPH (East China) |
CNY 8500-8650 |
USD 1161-1181 |
Stable |
Stable |
|
LLDPE (North China) |
CNY 8000-8250 |
USD 1093-1127 |
+CNY 50-100 |
+USD 8-16 |
|
**All USD equivalent prices are exclusive of 13% VAT |
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Total inventories at Sinopec and CNPC’s warehouses fell 20,000 tons from the previous trading day to 610,000 tons as of 25 June 2021. (Correction: Total stocks were on 24 June 2021 were at 630,000 tons. The previous snapshot reported at 640,000 tons.)
The domestic market continues to track the stable to firmer trend as suppliers leverage the bull run on the Dalian Commodity market. Customers cautiously proceed with additional purchases believing that spot offers might persist on the stable to firmer trend in the coming week, tracking the positive sentiment during the celebration of the 100th years of the Communist Party.