Market Alerts: China

CommoPlast

This morning, in China, the market is quiet as players are cautiously keeping an eye out for further development after the stock market fell the most in three months last Friday. Futures prices on Dalian Commodity Exchange contract number 1605 drop CNY140/t for LLDPE and CNY134/t for PP.

It is reported that local spot offers from domestic makers are up CNY100/t for both PP and PE as sellers had been able to deplete their stock last week, helping them to unload a considerable amount of sales pressure. Market players commented that they are currently on the side-line to monitor market movement in the new month, while many have expressed their bearish expectation.

In the upstream market, propylene (C3) prices FOB Korea basis was up $40/t on the last trading day of the week on news of Shell crackers in Singapore was hit by technical issue on 26 Nov. It is not clear on how severe is the issue and how long the cracker would remain offline. Ethylene prices were stable through out the week. In another plant news, it is reported that HMC Thailand has restarted their 750,000tpa PP plants after a maintenance shutdown.

For further information, kindly contact our market analysts at commoplastinfo@gmail.com.