Shandong Yulong Auction: Firm futures market fails to ignite strong buying appetite
Trading sentiment on the Shandong Yulong auction platform remained subdued on Thursday, as resilient futures contracts and rising crude oil prices did little to lift procurement enthusiasm.
|
Product |
Auction Volume |
Deal Volume |
Auction Prices |
Deal Prices |
Deal % |
||
|
CNY/ton |
USD/ton |
CNY/ton |
USD/ton |
||||
|
Combined and reported by CommoPlast |
|||||||
|
PPH Yarn (FD) |
1200 |
1050 |
7200 |
$889 |
7220-7250 |
$889-892 |
87.5% |
|
PPBC (FD) |
750 |
180 |
7280 |
$896 |
7280-7300 |
$896-898 |
24.0% |
|
PPBC (EXW) |
705 |
327 |
7260 |
$894 |
7270-7450 |
$895-917 |
46.4% |
|
PPH Film (FD) |
450 |
150 |
7240 |
$891 |
7240 |
$891 |
33.3% |
|
HD Yarn (FD) |
300 |
300 |
7950 |
$978 |
7970-7980 |
$981-982 |
100.0% |
|
LL Film (EXW) |
1377 |
1137 |
7380 |
$908 |
7380-7600 |
$908-935 |
82.6% |
|
LL Film (FD) |
1800 |
1200 |
7400 |
$911 |
7430-7520 |
$914-926 |
66.7% |
|
* Auction and Deal volumes are in tonnage * All USD equivalent prices only exclude the 13% value-added tax (VAT). They have not taken into account other costs that might incur in the selling process, i.e. import duty, customs clearances. |
|||||||
Trading sentiment on the Shandong Yulong auction platform remained subdued on Thursday, as resilient futures contracts and rising crude oil prices did little to lift procurement enthusiasm. Buyers showed a selective approach, focusing on specific grades and quantities that met immediate needs, while overall participation lagged expectations.
Despite the recent upswing in energy markets and firm support from the Dalian Commodity Exchange, sellers faced a largely cautious buyer base. According to market participants, auction parcels offered by Shandong Yulong lacked competitive pricing compared to prevailing spot market levels, which undermined broader engagement.
“We are seeing a generally cautious tone, with players continuing to assess the near-term direction. We are keeping lean inventory to mitigate the price risk exposure,” commented a local trader familiar with the auction process.
Written: Kat Yun Yun
Edited: Rochelle Nguyen