Although crude markets opened lower this week, yet upstream weakness has done little to shift sentiment on the ground. The dominant concern across the domestic market now is supply, with prompt cargo availability, rather than feedstock cost, setting the tone for pricing this week.
PP and LLDPE 2609 futures on the Dalian Commodity Exchange opened weaker on Monday and traded within a softer range, pressured by declining crude oil prices and easing concerns over US-Iran tensions following weekend developments.
| PP | LLDPE | PVC | |
|---|---|---|---|
| Close (CNY/ton) | 8,231 -33 | 7,671 -39 | 4,451 -28 |
| Close (USD/ton) | 1,079 -5 | 1,006 -6 | 584 -4 |
| Volume | 458,874 -19304 | 303,892 -13768 | 908,497 -10427 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
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| PX | PTA | MEG | |
|---|---|---|---|
| Close (CNY/ton) | 8,148 -18 | 5,854 +70 | 4,924 -83 |
| Close (USD/ton) | 1,068 -3 | 767 +10 | 646 -12 |
| Volume | 105,228 -2317 | 902,093 +27801 | 379,195 -16428 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
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