May 16, 2021 1:30 a.m.

China Morning Snapshot – 30 April 2021

On the bright note, the pre-holiday inventory level is very much manageable, according to market sources.

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Available in

September delivery contracts for both PP and LLDPE concluded the morning session in red regardless of the rebound in the energy complex

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

30 April 2021

Prices in CNY

USD Equivalent

Changes in CNY

Changes in USD

Combined and reported by CommoPlast

Dalian Commodity Exchange (Mid-day closing)

PP 2109

CNY 8481

USD 1160

-CNY 95

-USD 15

LLDPE 2109

CNY 8090

USD 1107

-CNY 80

-USD 12

Spot Domestic Prices (EXW China, Cash equivalent)

PPH (East China)

CNY 8600-8750

USD 1176-1197

Stable

Stable

LLDPE (North China)

CNY 8200-8500

USD 1122-1163

Stable

Stable

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

 

Total inventories at Sinopec and CNPC’s reduced only 5,000 tons from the previous session to 690,000 tons as of 30 April 2021.

The domestic spot market is rather quiet on the final trading day of the week as many participants have left for the Labour Day holiday. However, on the bright note, the pre-holiday inventory level is very much manageable, according to market sources and local suppliers are aiming to maintain the post-holiday stock between 830,000-850,000 tons, which would be the historical low for the build-up after Labour Day holiday. 

Country

China