China Morning Snapshot – 30 April 2021China Morning Snapshot – 30 April 2021 |
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September delivery contracts for both PP and LLDPE concluded the morning session in red regardless of the rebound in the energy complex.
Details on the spot and futures prices are shown in the following table:
30 April 2021 |
Prices in CNY |
USD Equivalent |
Changes in CNY |
Changes in USD |
Combined and reported by CommoPlast |
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Dalian Commodity Exchange (Mid-day closing) |
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PP 2109 |
CNY 8481 |
USD 1160 |
-CNY 95 |
-USD 15 |
LLDPE 2109 |
CNY 8090 |
USD 1107 |
-CNY 80 |
-USD 12 |
Spot Domestic Prices (EXW China, Cash equivalent) |
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PPH (East China) |
CNY 8600-8750 |
USD 1176-1197 |
Stable |
Stable |
LLDPE (North China) |
CNY 8200-8500 |
USD 1122-1163 |
Stable |
Stable |
**All USD equivalent prices are exclusive of 13% VAT |
Total inventories at Sinopec and CNPC’s reduced only 5,000 tons from the previous session to 690,000 tons as of 30 April 2021.
The domestic spot market is rather quiet on the final trading day of the week as many participants have left for the Labour Day holiday. However, on the bright note, the pre-holiday inventory level is very much manageable, according to market sources and local suppliers are aiming to maintain the post-holiday stock between 830,000-850,000 tons, which would be the historical low for the build-up after Labour Day holiday.
Country
China