Malaysia's import PVC market saw a measured opening to November shipment negotiations this week, as Southeast Asian producers kept initial offers largely steady to $5/ton softer than last month's opening lists despite a major Taiwanese producer's fourth consecutive price hike and firmer Chinese ethylene-based quotations.
PP and LLDPE futures on the Dalian Commodity Exchange (DCE) rebounded mildly after a weak opening on Wednesday, steering aggregate auction clearance at Shenhua Baotou Coal Chemical Co. up 12.8% from Tuesday to 93.3%.
China’s PVC market came under mounting pressure in September as feedstock costs squeezed domestic producers, export competitiveness weakened amid trade barriers and elevated freight rates, and consumption slumped to its lowest level of the year.
| PP | LLDPE | PVC | |
|---|---|---|---|
| Close (CNY/ton) | 9,299 -32 | 8,640 -31 | 5,032 +57 |
| Close (USD/ton) | 1,232 -5 | 1,145 -5 | 667 +9 |
| Volume | 666,840 -5871 | 431,846 -19258 | 1,141,645 +19880 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
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| PX | PTA | MEG | |
|---|---|---|---|
| Close (CNY/ton) | 9,330 -40 | 6,422 -28 | 4,758 -28 |
| Close (USD/ton) | 1,236 -6 | 851 -4 | 630 -4 |
| Volume | 90,182 -9809 | 1,071,673 -30945 | 238,506 +24222 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
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