January 2027 PP and LLDPE contracts on the Dalian Commodity Exchange opened firmer, breaking above last week's levels before retreating through the morning session. Participants largely read the reversal as a technical correction after the recent run-up rather than a shift in fundamentals, but it cooled enthusiasm across domestic spot markets.
China’s PET bottle market emerged from the Golden Week holiday caught between upstream cost momentum and a buy side unwilling to validate it. Surging futures and firmer crude oil dragged offers sharply higher, yet converters declined to follow, wary of paying elevated levels while a deep correction remains a risk.
A significantly smaller-than-expected accumulation in state inventories, coupled with surging Dalian Commodity Exchange (DCE) futures and Brent crude anchored above $100/bbl, spurred domestic suppliers to enforce steep price increases across spot PP and PE.
PP and LLDPE 2701 contracts on the Dalian Commodity Exchange (DCE) extended their rally through the morning session after the Golden Week reopening. Homo-PP yarn offers across China now sit firmly in five digits, and market players report no offers below the CNY 10,000/ton threshold this week.