Strategic baseline price cuts unlocked targeted, need-based PP procurement on Thursday, though a comprehensive rejection of all PE grades underscores a deeply cautious domestic and export outlook.
A full structural clearance for homo-PP injection was achieved on Thursday driven by substantial baseline concessions, while wider platform engagement softened amid a broader spot market downturn.
| PP | LLDPE | PVC | |
|---|---|---|---|
| Close (CNY/ton) | 8,491 -12 | 7,818 +26 | 4,939 +68 |
| Close (USD/ton) | 1,107 -2 | 1,019 +4 | 644 +10 |
| Volume | 549,543 +18271 | 357,709 -11361 | 1,034,138 -34606 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
|||
| PX | PTA | MEG | |
|---|---|---|---|
| Close (CNY/ton) | 8,690 +208 | 6,174 +152 | 4,463 +25 |
| Close (USD/ton) | 1,133 +31 | 805 +22 | 582 +4 |
| Volume | 126,681 -234898 | 1,072,544 +6358 | 299,514 -22237 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
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