China’s domestic LLDPE film prices have breached a nearly decade-old record, extending a rally increasingly driven by geopolitical tensions, elevated production costs and stronger export flows rather than robust domestic demand.
PP and LLDPE futures on the Dalian Commodity Exchange (DCE) retreated slightly on Tuesday morning after breaking higher during Monday's night session, cooling bidding momentum at Shenhua Baotou Coal Chemical Co.'s daily auction.
A major Saudi Arabian producer has finalised its November PE closing prices to Vietnam at $30–$80/ton below initial bid guidance for film grades, capitulating to widespread buyer pushback and sluggish local distribution.
China spot PP, PE retreat from record as Dalian rally rolls on; Saudi PE list shuts Vietnam re-export window - Trading sentiment in China's domestic PP and PE markets weakened slightly on Tuesday, with spot offers slipping despite a continued rally on the Dalian Commodity Exchange,
Extended gains on the Dalian Commodity Exchange (DCE) since Friday's night session propelled buying momentum at Shenhua Baotou Coal Chemical Co.'s Monday morning auction, with PP futures breaking above the CNY 10,000/ton threshold for the first time since October 2021 and LLDPE futures reaching a fresh peak last seen in March 2022.