China Futures Mixed as PP, PE & MEG Gain; PVC Slips

China’s polymer futures market closed on a mixed note on July 22, with PP, LLDPE, and MEG posting modest gains, while PVC edged slightly lower on the Dalian Commodity Exchange. The movement indicates cautious market sentiment, as support from upstream costs continues to underpin selected products despite ongoing uncertainty in downstream demand.

LLDPE September futures increased by CNY69/ton to settle at CNY7,829/ton ($1,023/ton, ex-VAT). PP September futures also moved higher, gaining CNY50/ton to CNY8,315/ton ($1,087/ton, ex-VAT). MEG September futures recorded the strongest rise among the contracts, climbing CNY80/ton to CNY4,776/ton ($624/ton, ex-VAT).

In contrast, PVC September futures slipped marginally by CNY18/ton, closing at CNY4,583/ton ($599/ton, ex-VAT), indicating a softer tone compared to the other major polymer contracts.

Trading activity remained active across all products, with PVC recording the highest trading volume, followed by PP, reflecting continued market participation despite mixed price movements.

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