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Key PP and LLDPE futures contracts for September 2025 delivery extended their uptrend into a third consecutive session on Monday, buoyed by regional stock market gains and improved sentiment following US tariff exemptions on select electronics.

Details on the spot and futures prices are shown in the following table:

Sinopec and CNPC’s combined PP and PE inventories rose by 50,000 tons over the weekend, lifting total stockpiles to 790,000 tons as of 14 April.

The futures rebound enabled spot sellers to begin the week with stable offers. However, following days of volatile macroeconomic sentiment and abrupt trade policy changes, buyers were reluctant to commit to purchases.

“Many are waiting to see if this market stability will persist,” one trader noted.

The appetite to procure fell under further strain as the ChinaPlas fair—set to run until 18 April—loomed just a day away, with a number of market participants reported to have already left their desks for Shenzhen. The fair marks the beginning of a series of expected market disruptions, including the Canton Fair (15 April–5 May) and Labour Day holiday (1–5 May), leaving buyers highly cautious in managing late-April stockpiles.

Written by: Kat Yun Yun 

Edited by: Derek Yong

Country
China