Sep 21, 2020 5:56 p.m.

China Morning Snapshot – 16 September 2020

Transactions remain largely stable compared to the previous trading day, though customers might still in the stage of warming up.

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By the end of the morning session, both PP and LLDPE contracts on Dalian Commodity Exchange remain in the red, following the selloff observed in the international equity market. 

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

16 September 2020

Prices in CNY

USD Equivalent

Changes in CNY

Changes in USD

Combined and reported by CommoPlast

Dalian Commodity Exchange (Mid-day closing)

PP 2101

CNY 7694

USD 1006

-CNY 27

-USD 4

LLDPE 2101

CNY 7340

USD 959

-CNY 45

-USD 7

Spot Domestic Prices (EXW China, Cash equivalent)

PPH (East China)

CNY 7950-8200

USD 1039-1072

Stable

Stable

LLDPE (North China)

CNY 7300-7500

USD 954-980

-CNY 50

-USD 7

**All USD equivalent prices are exclusive of 13% VAT

           

 

Total inventories at Sinopec and CNPC’s warehouses reduced 20,000 tons from the previous trading day to 725,000 tons as of 16 September 2020.

Transactions remain largely stable compared to the previous trading day, though customers might still in the stage of warming up before actively making another round of pre-holiday replenishment, sources said.