As the first monthly average price futures (MAFs) contracts in China’s commodity futures market and the first cash-settled contracts listed on Dalian Commodity Exchange (DCE), the MAFs Contracts for Linear Low-Density Polyethylene (LLDPE), Polyvinyl Chloride (PVC) and Polypropylene (PP) have completed their first year of trading since their launch on October 28, 2025 on DCE. Trading has remained stable, with the market functions beginning to emerge.
As of the end of October 2026, the MAFs contracts for LLDPE, PVC and PP have recorded a combined daily average trading volume of 20,230 lots and open interest of 32,646 lots. A total of 30 contracts had beenconcluded, with cumulative cash-settled deliveries of 4,742 lots.
Institutional clients accounted for more than 50% of daily average trading volume and over 88% of daily average open interest across all three plastics futures products, with more than 400 institutional clients participating in trading. Some leading enterprises are exploring the use of MAFs to manage price risks in average-price trade and make hedging operations more convenient.
