insight
Chinese buyers were notably active in today’s market, with Shenhua’s auction session ending on a strong note. This performance comes despite declining key futures contracts on the Dalian Commodity Exchange and a CNY 50/ton increase in coal-based LLDPE film cargo prices.
economy
Industry experts have warned that the storm could potentially reduce oil output by as much as 4 million barrels, adding to ongoing supply uncertainties. Furthermore, the depreciation of the US dollar against other major currencies made oil more affordable in international markets.
economy
The planned OPEC+ increase in oil output, originally scheduled for December 1, has been postponed as concerns mount over global market instability, which could exacerbate the anticipated decline in prices after the production hike.
Get daily prices along with industry leading opinions
| PP | LLDPE | PVC | |
|---|---|---|---|
| Close (CNY/ton) | 7,427 -31 | 8,187 +5 | 5,391 -52 |
| Close (USD/ton) | 914 -4 | 1,008 +1 | 664 -7 |
| Volume | 341,970 +1161 | 420,335 +12783 | 901,359 +790480 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
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| PX | PTA | MEG | |
|---|---|---|---|
| Close (CNY/ton) | 5,772 -172 | 4,834 -128 | 4,589 -26 |
| Close (USD/ton) | 834 -24 | 595 -18 | 758 -4 |
| Volume | 114,845 -1135155 | 1,340,000 +1093954 | 244,112 +228408 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
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