In China’s polymer futures market today, small but telling shifts emerged across several core resin and feedstock grades. LLDPE (Linear Low-Density Polyethylene) and PP (Polypropylene) both closed lower, PVC (Polyvinyl Chloride) managed a slight gain, and MEG (Monoethylene Glycol) remained nearly flat.
LLDPE opened the session at RMB 7,252/mt (about USD 849/mt), saw a brief intraday range between RMB 7,265 and RMB 7,238, and closed at RMB 7,245 (USD 848/mt). The drop amounted to approximately 0.21%, or RMB 15 (around USD 1.76/mt) from the previous settlement of RMB 7,260 (USD 850/mt). PP also edged down, opening at RMB 6,977 (USD 817/mt), peaking at RMB 6,996 (USD 819/mt), bottoming at RMB 6,970 (USD 816/mt), and ending at RMB 6,982 (USD 817/mt), a decline of about 0.35% or RMB 10 (USD ~0.14/mt) from the prior close.
Meanwhile, PVC bucked the soft trend. It opened at RMB 4,966 (USD 581/mt), ranged between RMB 4,985 and RMB 4,952, and closed at RMB 4,973 (USD 582/mt), marking a small gain of around 0.18%, or RMB 9 (USD ~1.05/mt) above its previous settlement of RMB 4,964 (USD 581/mt). MEG saw only minimal movement—opening near RMB 4,283 (USD 501/mt), ranging between RMB 4,308 and RMB 4,275, and closing at RMB 4,297 (USD 503/mt), down just RMB 1 (USD ~0.02/mt) from the previous session’s RMB 4,298 (USD 503/mt).
These modest price movements reflect a broader atmosphere of caution in the Chinese market, driven by weak downstream demand and supply considerations. Buyers appear hesitant to commit to large volumes amid limited production momentum and muted economic signals, while sellers seem reluctant to push prices significantly in either direction without stronger cues. Unless there is a fresh trigger, such as policy changes, currency fluctuations, or disruptions in feedstock supply, expectations are for the market to remain stable to mildly soft in the near term.
