PP and LLDPE 2609 contracts on the Dalian Commodity Exchange snapped back sharply in the morning session, driven by a recovery in crude oil prices after President Donald Trump rejected Iran's latest response to his Middle East ceasefire proposal, prolonging the effective closure of the Strait of Hormuz and lifting energy sentiment across the board.
Crude futures recorded a 6% weekly decline as a $7 billion CFTC investigation into irregular paper-market shorts overshadowed renewed US-Iranian air strikes and impending summer gasoline shortages.
| PP | LLDPE | PVC | |
|---|---|---|---|
| Close (CNY/ton) | 8,685 +157 | 8,177 +133 | 5,133 -27 |
| Close (USD/ton) | 1,130 +23 | 1,064 +19 | 668 -4 |
| Volume | 500,603 +28698 | 353,072 -12247 | 973,397 -13203 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
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| PX | PTA | MEG | |
|---|---|---|---|
| Close (CNY/ton) | 9,222 +182 | 6,486 +100 | 4,833 +31 |
| Close (USD/ton) | 1,200 +27 | 844 +15 | 629 +5 |
| Volume | 113,396 -5359 | 1,071,060 +1544 | 302,547 +499 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
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