Crude futures edged lower on transient diplomatic optimism, but paper losses were severely capped by a record 9.9-million-barrel drain on the US Strategic Petroleum Reserve and a massive contraction in Chinese refinery runs.
The firmer PP futures tone fed directly into Shenhua's auction, where all PP cargoes sold out in full. PE cargoes, by contrast, posted a weaker sales performance, underscoring the growing gap in near-term sentiment between the two polymer markets.
| PP | LLDPE | PVC | |
|---|---|---|---|
| Close (CNY/ton) | 8,930 +62 | 8,094 +68 | 4,947 -101 |
| Close (USD/ton) | 1,160 +9 | 1,052 +10 | 643 -15 |
| Volume | 588,122 -3888 | 380,498 -11398 | 1,081,621 +53907 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
|||
| PX | PTA | MEG | |
|---|---|---|---|
| Close (CNY/ton) | 9,086 -4 | 6,374 -2 | 4,731 +7 |
| Close (USD/ton) | 1,181 -1 | 828 -0 | 615 +1 |
| Volume | 112,820 +2490 | 1,067,333 -2315 | 304,173 -1218 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
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