- China stocks entered the bull-market territory, with stock indexes surged on Monday for their biggest one-day gain in half a decade. The Shanghai stock market jumped 5.7% after a front-page editorial in the state-owned China Securities Journal essentially said that it is a good time to buy stocks. Dalian Commodity Exchange accelerated gains following the bullish market witnessed in China stocks market. As of Wednesday, July 8, SSESSMENTS.COM noted that September 2020 LLDPE prices on the Dalian Commodity Exchange posted a significant increase by CNY190/ton ($27/ton) as observed at 1 PM GMT+8, open at CNY7,265/ton ($1,035/ton) by morning trading session. In response to recent gains in the futures market, a Chinese trader initiated a price increase of between CNY100-200/ton ($14-28/ton) for local HDPE Film, LDPE Film, and LLDPE Film C4 cargoes as compared to Tuesday’s level.
- From the import market, a global trading house reported to SSESSMENTS.COM that a Thai PE producer has announced offers for early August shipment. As informed, the trader received offers for LLDPE Film C4 from the producer at $910/ton, or $40/ton higher as compared to offer level available last week. Deals were successfully concluded at the initial offer level. As for HDPE Film, the trader mentioned that current offers are hovering above $1,000/ton-level, captured at $1,015/ton, with deals achieved at the initial level to slightly lower by $5/ton. All offers are on LC at sight, CIF China Main Port basis.
