Compared to two week ago, the PP futures price movement saw DGCX PP July contract moving sideways with trading range of 1,444 to 1,474 per tonne. The premium to China futures (DCE) prices has increased to USD 60-65 per tonne (Exclude the Duty and VAT) as depicted on Figure 2. Activities were shown on DGCX PP September contract. On the China front, the DCE September contract moved sideways amid labor day holiday break and many awaits the delivery of May contract which expires on May 16, 2014. The CNY strengthened from 6.2550 to a dollar two week back to 6.2334 to a dollar. Please find the attached statistics since inception as well as a snapshot on the gross price comparison between DCE 1409 and DGCX 1407 in US dollar.
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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