The softening in paper contracts triggered a wave of price discounting across domestic distribution hubs, immediately dampening procurement sentiment and narrowing the competitive advantage previously enjoyed by coal-to-olefin auction parcels.
US commercial crude oil inventories rose by 4.4 million barrels in the week ending August 14 to 428.8 million barrels, erasing seasonal deficits to match the five-year average for this time of year as refiners accelerated processing rates.
Global crude benchmarks climbed to four-week highs on Wednesday, lifted by escalating geopolitical fragmentation after the UAE severed economic ties with Iran, sluggish maritime transits through the Strait of Hormuz, and reduced Russian port loadings.
| PP | LLDPE | PVC | |
|---|---|---|---|
| Close (CNY/ton) | 7,994 -4 | 7,794 -39 | 4,710 -39 |
| Close (USD/ton) | 1,050 -1 | 1,023 -6 | 618 -6 |
| Volume | 489,787 +34993 | 362,995 +26116 | 854,908 +60740 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
|||
| PX | PTA | MEG | |
|---|---|---|---|
| Close (CNY/ton) | 8,264 -66 | 5,740 -62 | 4,584 -50 |
| Close (USD/ton) | 1,085 -10 | 754 -9 | 602 -7 |
| Volume | 157,663 -9386 | 827,921 +38632 | 200,140 +2177 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
|||
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