China’s PP, LLDPE futures surge as DCE reopens after holiday break
by ChemOrbis Editorial Team - content@chemorbis.com
PP and LLDPE futures on the Dalian Commodity Exchange witnessed notable gains during the first trading session after the Chinese New Year holiday.
Firmer Dalian futures were mainly driven by rising oil prices. The US has been facing disrupted crude output due to winter storm in the state.
On Thursday, February 18, May PP futures on the Dalian Commodity Exchange settled CNY588/ton ($91/ton) higher when compared to the previous trading session while LLDPE futures posted a relatively higher increase of CNY640/ton ($100/ton).
Meanwhile, traders reported that two major Chinese producers’ combined polyolefin inventory levels rose to 920,000 tons on Thursday, February 18. These levels were up by 350,000 tons or 61.5% from February 10.
Firmer Dalian futures were mainly driven by rising oil prices. The US has been facing disrupted crude output due to winter storm in the state.
On Thursday, February 18, May PP futures on the Dalian Commodity Exchange settled CNY588/ton ($91/ton) higher when compared to the previous trading session while LLDPE futures posted a relatively higher increase of CNY640/ton ($100/ton).
Meanwhile, traders reported that two major Chinese producers’ combined polyolefin inventory levels rose to 920,000 tons on Thursday, February 18. These levels were up by 350,000 tons or 61.5% from February 10.
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