Chinese polymer futures closed Monday with a mixed performance, reflecting the fragile sentiment across petrochemical markets. Gains in polyvinyl chloride (PVC) contrasted with declines in linear low-density polyethylene (LLDPE), polypropylene (PP), and monoethylene glycol (MEG), underscoring the divergent fundamentals shaping trading activity.
On the Dalian Commodity Exchange, LLDPE (l2601) contracts opened at RMB 7,275 (USD 847/mt) and traded between RMB 7,290 (USD 848/mt) and RMB 7,241 (USD 843/mt), before closing slightly lower at RMB 7,252 (USD 844/mt). This marked a modest decline of 0.06 percent, or RMB 4 (USD 0.47/mt), from the previous settlement of RMB 7,256 (USD 844/mt).
PP (pp2601) futures also drifted lower, opening at RMB 6,967 (USD 811/mt) and moving within a range of RMB 6,978 (USD 812/mt) to RMB 6,935 (USD 807/mt). The contract settled at RMB 6,943 (USD 807/mt), down 0.20 percent, or RMB 6 (USD 0.70/mt), compared with Friday’s RMB 6,949 (USD 809/mt).
PVC (v2601) bucked the downtrend, rising marginally. Contracts opened at RMB 4,883 (USD 568/mt) and touched a high of RMB 4,918 (USD 572/mt) before settling at RMB 4,888 (USD 569/mt). Prices gained 0.14 percent, or RMB 7 (USD 0.81/mt), from the prior close of RMB 4,881 (USD 568/mt).
In contrast, MEG (eg2601) saw the steepest fall of the day. The contract opened at RMB 4,425 (USD 515/mt) and swung between RMB 4,435 (USD 516/mt) and RMB 4,334 (USD 504/mt), before closing sharply lower at RMB 4,339 (USD 505/mt). This represented a significant drop of 2.23 percent, or RMB 99 (USD 11.52/mt), compared with RMB 4,438 (USD 516/mt) at the previous settlement.
Traders observed that the moves reflected broader uncertainty in China’s polymer markets, where oversupply continues to cap prices in polyethylene and MEG, while PVC has found limited support from steady downstream demand and tighter regional balances. Market players suggested that futures are likely to remain volatile in the near term as participants weigh global crude trends, upcoming plant maintenance schedules, and the outlook for September demand recovery.
