PP and LLDPE futures on the Dalian Commodity Exchange (DCE) retreated slightly on Tuesday morning after breaking higher during Monday's night session, cooling bidding momentum at Shenhua Baotou Coal Chemical Co.'s daily auction.
Global crude oil futures settled lower on Monday as multi-nation diplomatic talks in Tehran and rising Russian diesel output tempered supply fears, though persistent attacks on Saudi infrastructure and Gulf shipping limited the pullback.
The latest adjustment followed a pause in PP prices late last week, while a six-month high in crude oil prices, record-high propylene costs and limited prompt cargo availability gave sellers further grounds to push offers higher.
| PP | LLDPE | PVC | |
|---|---|---|---|
| Close (CNY/ton) | 10,013 +493 | 9,149 +329 | 5,134 +83 |
| Close (USD/ton) | 1,328 +74 | 1,214 +49 | 681 +12 |
| Volume | 662,419 -42065 | 441,954 +4545 | 1,065,580 -70484 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
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| PX | PTA | MEG | |
|---|---|---|---|
| Close (CNY/ton) | 9,782 +320 | 6,602 +100 | 4,980 +137 |
| Close (USD/ton) | 1,298 +48 | 876 +15 | 661 +20 |
| Volume | 112,815 +18089 | 1,040,042 -4599 | 294,346 +15529 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
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