The Chinese polymer futures market closed with a varied performance as the yuan traded at 7.12 to the U.S. dollar, setting the stage for subtle yet telling price movements across key commodities.
Linear Low Density Polyethylene (LLDPE) futures started the session at RMB 7,232 (USD 844). Prices briefly climbed to a day high of RMB 7,287 (USD 850) before dipping to a low of RMB 7,230 (USD 844). The contract ultimately settled at RMB 7,234 (USD 844), marking a 0.44 percent rise, equivalent to RMB 32 (USD 3.73 per metric tonne) over the previous close of RMB 7,202 (USD 841/mt). The gain reflects renewed buying interest and a modest rebound in market sentiment.
Polypropylene (PP) also managed to edge higher. Opening at RMB 6,970 (USD 813), the contract traded between RMB 7,017 (USD 819) and RMB 6,967 (USD 813) before ending exactly where it opened, RMB 6,970 (USD 813). That represents a 0.35 percent uptick, or RMB 24 (USD 2.80/mt), from the previous settlement of RMB 6,946 (USD 811/mt), highlighting steady demand even amid cautious macroeconomic signals.
The standout mover of the day was Polyvinyl Chloride (PVC). Futures jumped from an opening of RMB 4,934 (USD 576) to a high of RMB 4,994 (USD 583), with a brief low at RMB 4,929 (USD 575). By the close, PVC settled at RMB 4,960 (USD 579), a 1.27 percent surge, translating to RMB 62 (USD 7.24/mt) compared with the prior RMB 4,898 (USD 572/mt) close. Market participants attribute the strong showing to firm downstream demand and seasonal restocking.
By contrast, Monoethylene Glycol (MEG) futures slipped slightly. Opening at RMB 4,292 (USD 501), the contract traded as high as RMB 4,320 (USD 504) and as low as RMB 4,272 (USD 499) before closing at RMB 4,272 (USD 499). That represents a 0.12 percent decline, or RMB 5 (USD 0.58/mt), from the previous RMB 4,277 (USD 499/mt) settlement, underscoring lingering oversupply concerns.
Overall, the session painted a picture of selective optimism: PVC led the gains, LLDPE and PP followed with moderate increases, while MEG continued to face mild headwinds. Traders are now watching for further cues from both domestic industrial demand and global energy markets to guide the next moves in China’s polymer futures.
