China Morning Snapshot – 16 September 2020
China Morning Snapshot – 16 September 2020
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 |
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|
Dalian Commodity Exchange (Mid-day closing) |
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|
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) |
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|
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 |
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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.