- A trader reported to SSESSMENTS.COM that the trader’s offers for local PP Homo Raffia cargoes were adjusted down by CNY50/ton ($7/ton) from Monday’s level but buyers’ response remains cold so far. From the import market, the trader received offers for PP Homo Raffia cargoes of India origin at $830/ton on LC at sight, CIF China Main Port basis, which is deemed unworkable considering the current market situation.
- Another Chinese trader informed SSESSMENTS.COM that the company purchased PP Homo Raffia cargoes from the leading Indonesian polyolefins producer at $800/ton on LC at sight, CFR China Main Port basis. While for Vietnam market, the trader purchased PP Homo Raffia cargoes from the same producer at $810/ton on LC at sight, CIF Main Port basis. Further added, the trader is offering the cargoes to its customers in Vietnam at $825/ton on the same payment and delivery term yet faces difficulties to sell as most of them already have sufficient inventory on hand.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 27.03 | May Settlement | 0.05 |
| NYMEX | 23.36 | May Settlement | 0.73 |
| Naphtha | 284 | CFR Japan | -8 |
| Ethylene | 547-555 | CFR NEA | -39 to -41 |
| Ethylene | 528-534 | CFR SEA | No Changes |
| Propylene | 703-709 | CFR China | No Changes |
| Propylene | 693-699 | FOB Korea | No Changes |
Futures Price on Dalian Commodity Exchange (DCE)
| Dalian Futures May 2020 | Today’s Open (CNY/ton) | Previous Trading Day’s Settlement (CNY/ton) | Today’s Settlement (CNY/ton) |
|---|
| PP Raffia | 6,450 | 6,365 | 6,364 |
PP Homo Raffia, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 6,550-7,000 | 6,550-7,000 |
Import PP Homo Raffia on LC at sight, CIF China main port basis
| Origin | Previous Trading Day’s Range (USD/ton) | Today’s Range (USD/ton) |
|---|
| Middle East | 840-880 | 840-880 |
Tags: China,Daily,English,PP
Published on March 24, 2020 3:22 PM (GMT+8)
Last Updated on March 24, 2020 3:31 PM (GMT+8)
