A strategic pivot to inject larger PE volumes onto the public auction floor was met with profound transactional apathy on Tuesday, as buyers bypassed rigid baselines in favour of flexible spot alternatives.
While the producer had previously weighed deferring maintenance to capture firmer domestic margins, the prospect of further delay exacerbating wear and weakening equipment integrity ultimately closed that window.
Stocks decline has been driven by export flows rather than a meaningful recovery in domestic consumption, leaving underlying demand conditions broadly unchanged. With stocks still hovering close to the one-million-ton threshold, sentiment remains cautious.
| PP | LLDPE | PVC | |
|---|---|---|---|
| Close (CNY/ton) | 8,939 -59 | 8,316 -64 | 4,917 -38 |
| Close (USD/ton) | 1,160 -9 | 1,079 -9 | 638 -5 |
| Volume | 210,032 -15356 | 192,478 -21779 | 435,096 -41776 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
|||
| PX | PTA | MEG | |
|---|---|---|---|
| Close (CNY/ton) | 9,382 +376 | 6,426 +132 | 4,925 -40 |
| Close (USD/ton) | 1,217 +54 | 834 +19 | 639 -6 |
| Volume | 98,125 +0 | 548,402 -51653 | 207,891 -25299 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
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