Domestic consumption has remained largely stagnant since the property downturn began in 2022, with producers leaning heavily on overseas markets to absorb excess supply — a strategy now facing mounting constraints.
Tactical baseline reductions of up to CNY 200/ton successfully reopened the structural arbitrage window on Monday, driving robust but measured procurement across the Shenhua platform as downstream buyers firmly rejected inflating domestic spot offers.
| PP | LLDPE | PVC | |
|---|---|---|---|
| Close (CNY/ton) | 9,269 +40 | 8,804 +3 | 5,551 -63 |
| Close (USD/ton) | 1,187 +6 | 1,128 +0 | 711 -9 |
| Volume | 337,577 -19730 | 324,187 -2555 | 725,905 +5757 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
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| PX | PTA | MEG | |
|---|---|---|---|
| Close (CNY/ton) | 9,840 +12 | 6,768 -32 | 5,359 +168 |
| Close (USD/ton) | 1,260 +2 | 867 -5 | 686 +24 |
| Volume | 162,129 -15173 | 935,073 -23450 | 296,562 +923 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
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