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China Morning Snapshot – 26 January 2021China Morning Snapshot – 26 January 2021 |
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Dalian Commodity Exchange ended the morning session on a mixed note though the fluctuations are not major.
Details on the spot and futures prices are shown in the following table:
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25 January 2021 |
Prices in CNY |
USD Equivalent |
Changes in CNY |
Changes in USD |
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Combined and reported by CommoPlast |
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Dalian Commodity Exchange (Mid-day closing) |
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PP 2105 |
CNY 8108 |
USD 1107 |
-CNY 10 |
-USD 2 |
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LLDPE 2105 |
CNY 7810 |
USD 1067 |
+CNY 5 |
+USD 1 |
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Spot Domestic Prices (EXW China, Cash equivalent) |
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PPH (East China) |
CNY 8200-8450 |
USD 1120-1154 |
Stable |
Stable |
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LLDPE (North China) |
CNY 7800-8050 |
USD 1065-1099 |
+CNY 50 |
-USD 8 |
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**All USD equivalent prices are exclusive of 13% VAT |
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Total inventories at Sinopec and CNPC’s warehouses digested 25,000 tons in the previous trading day to 520,000 tons as of 26 January 2021. (Correction: Total stocks were at 545,000 tons on 25 January 2021. The previous snapshot reported at 555,000 tons.)
Sentiment in the domestic spot market remains average on the second trading of the week. Despite the slower inventory digestion rate, the stocks at major local producers’ warehouses are much lower than usual, from which players could expect the near-term outlook to be largely stable.
“We have sold out all allocations for February at CNY50-100/ton below the current market levels. The post-holiday outlook is rather uncertain, hence we are not interested in keeping inventories,” a trader reported.
Country
China
