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DailySSESSMENTS: China PP Price 13th April 2020

Author: SSESSMENTS

- Following the rebound in the China market, a Chinese trader adjusted up its offers for local PP cargoes continuously. During the last weekend, April 11-12, the trader has attempted a price increase of CNY1,000/ton ($142/ton) on local PP Homo Raffia offers as compared to the offers available on Friday, April 10. The trader revealed that they decided to continue to adjust prices as market remained active during the weekend. By April 13, the latest offers from the trader surged to CNY8,800-9,000/ton ($1,251-1,279/ton) with the same payment and delivery term, as SSESSMENTS.COM noted.

- On the supply front, market sources in China shared with SSESSMENTS.COM on the latest updates of inventory level at the two leading Chinese polyolefins producers. As of Monday, inventory level at both producers accumulated to 960,000 tons, an increase of 15,000 tons as compared to last Friday’s level.

ProductPrice (USD)TermsChanges From Previous Trading Day (USD)
Brent-June SettlementNo Settlement*
NYMEX-May SettlementNo Settlement*
Naphtha-CFR JapanNo Settlement*
Ethylene-CFR NEANo Settlement*
Ethylene-CFR SEANo Settlement*
Propylene-CFR ChinaNo Settlement*
Propylene-FOB KoreaNo Settlement*
Description: *No settlement due to Good Friday holiday

Futures Price on Dalian Commodity Exchange (DCE)

Dalian Futures September 2020Today’s Open (CNY/ton)Previous Trading Day’s Settlement (CNY/ton) Today’s Settlement (CNY/ton)Today’s Settlement (CNY/ton)
PP Raffia7,2906,8207,164

PP Homo Raffia, on cash, EXW China basis, including 13% VAT

OriginPrevious Trading Day’s Range (CNY/ton)Today’s Range (CNY/ton)
China7,200-7,6008,800-9,000

Import PP Homo Raffia on LC at sight, CIF China main port basis

OriginPrevious Trading Day’s Range (USD/ton) Today’s Range (USD/ton)Today’s Range (CNY/ton)
Middle East750-760810

Tags: Asia Pacific,China,Daily,English,NEA,PP

Published on April 13, 2020 4:06 PM (GMT+8)
Last Updated on April 13, 2020 4:06 PM (GMT+8)