China Morning Snapshot – 07 April 2021
China Morning Snapshot – 07 April 2021
Dalian Commodity Exchange extended the firming trend from the last night’s trading, settling the morning session with sharp increases.
Details on the spot and futures prices are shown in the following table:
|
07 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 2105 |
CNY 9020 |
USD 1221 |
+CNY 115 |
+USD 18 |
|
LLDPE 2105 |
CNY 8845 |
USD 1197 |
+CNY 175 |
+USD 27 |
|
Spot Domestic Prices (EXW China, Cash equivalent) |
||||
|
PPH (East China) |
CNY 9050-9300 |
USD 1225-1258 |
+CNY 50 |
+USD 8 |
|
LLDPE (North China) |
CNY 8700-8900 |
USD 1177-1204 |
+CNY 100 |
+USD 16 |
|
**All USD equivalent prices are exclusive of 13% VAT |
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Total inventories at Sinopec and CNPC’s reduced 25,000 tons day-on-day to 895,000 tons as of 07 April 2021.
Sentiment in the local ground remains largely unchanged from the previous trading day and even minor price increases are facing stiff resistance from customers. A number of traders informed of strong inquiries for LLDPE film without additive from South American buyers, which could help to ease pressure in the local ground.