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Polymer futures prices post significant losses in China

by ChemOrbis Editorial Team - content@chemorbis.com
  • 08/07/2015 (18:38)
Players in China report that polymer futures on the Dalian Commodity Exchange have witnessed significant losses in line with a downturn in Chinese financial markets. As of July 8, September futures prices had fallen by CNY1030/ton ($168/ton)for LLDPE, CNY681/ton ($111/ton) for PP and CNY585/ton ($95/ton) for PVC when compared with the start of the month, bringing the July 8 closing prices to CNY8885/ton ($1239/ton without VAT) for LLDPE, for CNY7932/ton ($1106/ton without VAT) for PP and CNY5060/ton ($706/ton without VAT) for PVC.

Players attributed the steep losses in futures prices to bearish sentiment stemming from a large sell-off in Chinese equity markets, which has seen China’s stock markets lose nearly a third of their value since mid-June.
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