China’s key polymer futures edged lower in the latest trading session, with contracts for linear low-density polyethylene (LLDPE), polypropylene (PP), polyvinyl chloride (PVC), and monoethylene glycol (MEG) all closing in negative territory as sentiment softened across commodity markets.
On the Dalian Commodity Exchange, LLDPE opened at RMB 7,235 (about USD 846) and briefly climbed to a day high of RMB 7,254 (USD 848). Prices dipped to a low of RMB 7,182 (USD 839) before settling at RMB 7,188 (USD 840), marking a decline of 0.84% or RMB 61 (USD 7.13 per metric ton) from the previous close of RMB 7,249 (USD 847).
Polypropylene futures followed a similar pattern. PP contracts started the session at RMB 6,983 (USD 816) and traded between RMB 6,990 (USD 817) and RMB 6,920 (USD 809). The market ultimately finished at RMB 6,926 (USD 809), down 0.80% or RMB 56 (USD 6.54/mt) compared with the prior settlement of RMB 6,982 (USD 816).
PVC futures also lost ground. Opening at RMB 4,975 (USD 581), prices briefly touched RMB 4,993 (USD 584) before slipping to a low of RMB 4,902 (USD 573). The contract settled at RMB 4,923 (USD 575), a decrease of 0.89% or RMB 44 (USD 5.14/mt) from the previous close of RMB 4,967 (USD 580).
In the MEG market, contracts began at RMB 4,290 (USD 501) and moved between a high of RMB 4,301 (USD 503) and a low of RMB 4,258 (USD 498). The session ended with MEG at RMB 4,268 (USD 499), slipping 0.49% or RMB 21 (USD 2.45/mt) from the last settlement of RMB 4,289 (USD 501).
Analysts attributed the broad-based weakness to cautious buying interest and lingering uncertainty in global energy markets, which influence the cost of petrochemical feedstocks. With crude oil prices fluctuating and downstream demand remaining uneven, traders remained reluctant to build large positions, leading to a modest pullback across all major polymer futures.
The latest moves underscore how sensitive China’s polymer markets remain to shifts in both domestic economic sentiment and international energy trends. Unless there is a decisive change in feedstock costs or a sharp pickup in end-user demand, market watchers expect prices to continue oscillating within a narrow range.
