Polymer futures on the Dalian Commodity Exchange closed Monday’s session on a mixed note, with some contracts slipping lower while others managed to hold firm. Market participants reported cautious trading activity, with sentiment weighed down by global demand uncertainties and fluctuating feedstock costs, though some products showed resilience.
In the LLDPE (l2601) contract, prices opened at RMB 7,248 per metric ton (USD 846) and moved within a narrow range, hitting a high of RMB 7,256 (USD 847) and a low of RMB 7,214 (USD 842). The contract eventually settled at RMB 7,229 (USD 844), unchanged from the previous settlement. Traders said the stability reflected balanced fundamentals, with steady demand from downstream packaging keeping the market well-supported.
Polypropylene (pp2601) futures displayed minor weakness during the session. The contract opened at RMB 6,970 (USD 813) and touched an intraday high of RMB 6,973 (USD 814) before easing to a low of RMB 6,931 (USD 809). It closed at RMB 6,949 (USD 811), down by just RMB 1 (USD 0.12) from the prior session, a negligible 0.01% decline. Market observers attributed the slight dip to cautious buying interest as converters assessed near-term demand prospects.
PVC (v2601) futures, however, recorded sharper losses. The contract began trading at RMB 4,890 (USD 571) and reached a high of RMB 4,892 (USD 571) before dropping to a session low of RMB 4,829 (USD 564). It eventually settled at RMB 4,847 (USD 566), marking a fall of 0.64% or RMB 31 (USD 3.62) compared to the previous close. The decline reflected weaker sentiment in construction-related demand, which has struggled to gain momentum in recent weeks.
MEG (eg2601) futures also ended lower, with the contract opening at RMB 4,342 (USD 507) and fluctuating between RMB 4,345 (USD 507) and RMB 4,295 (USD 501). The close was recorded at RMB 4,322 (USD 504), down by RMB 22 (USD 2.57) or 0.51% from the previous settlement. Traders pointed to soft demand from the polyester sector and ample domestic supply as the primary reasons for the downward pressure.
Overall, the session highlighted the diverging trends in China’s polymer futures market, with LLDPE showing resilience, PP slipping marginally, and both PVC and MEG posting more noticeable declines. Market participants now await further cues from feedstock markets and downstream demand in order to gauge the near-term trajectory.
