Compared to the beginning of April, the PP futures price movement saw July contract moving in tandem to the movement shown on Dalian Commodity Exchange September PP futures contract. The premium to China futures (DCE) prices shot up to USD 65 per tonne (Exclude the Duty and VAT). DGCX July Contract traded at the range of 1440-1480 throughout the week. On the China front, the DCE September contract came off the high with a drop in the currency movement. As at 28 April, the CNY stood at 6.25 to a dollar. Below is the statistics since inception as well as the snapshot of the gross price comparison between DCE 1409 and DGCX 1407 in US dollar.
Last week, the exchange published two notices that are related to the PP futures:
- The introduction of M1-M2 Spread contract for DPPM. This will be an additional feature for participants to roll their positions;
- The announcement of Approved Warehouses for Plastic contracts.
DGCX will attend the China Plastic Industry Conference in Hangzhou on May 27, 2014. Meetings have be scheduled with participants from the Far East and the GCC.
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