A cascading deterioration across Dalian paper markets entirely neutralised Shenhua's aggressive pre-holiday baseline concessions on Thursday, leaving the physical polyolefin complex mired in a severe structural stalemate as downstream converters aggressively retreated ahead of the Dragon Boat Festival.
Oil prices edged up 1% as executive doubts over the finality of the US-Iran accord and a historic 1985 low in US inventories triggered a technical bounce, while IEA warnings of a massive 2027 supply glut capped broader gains.
| PP | LLDPE | PVC | |
|---|---|---|---|
| Close (CNY/ton) | 7,647 -255 | 7,206 -216 | 4,616 -38 |
| Close (USD/ton) | 1,001 -38 | 943 -32 | 604 -6 |
| Volume | 524,585 -15848 | 415,152 +4905 | 1,256,297 -5609 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
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| PX | PTA | MEG | |
|---|---|---|---|
| Close (CNY/ton) | 8,104 +94 | 5,868 +88 | 4,209 -38 |
| Close (USD/ton) | 1,061 +14 | 768 +13 | 551 -6 |
| Volume | 189,534 +3379 | 1,043,761 +23616 | 292,807 +363 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
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