- A trader based in China revealed to SSESSMENTS.COM regarding the latest offers for PP Homo Raffia cargoes in the domestic market. From the trader’s end, the offers for the grades recorded higher by CNY100/ton ($14/ton) compared to Wednesday’s level. At the moment, the offers are available between CNY7,700-7,900/ton ($1,084-1,113/ton) on cash, EXW China basis, and including 13% VAT.
- In the import market, a global trading house informed SSESSMENTS.COM on receiving fresh offers for PP Homo Raffia from a Saudi producer at $30-40/ton higher than last week’s level, available at $830-840/ton on LC at sight, CIF China Main Port basis. The trader decided to skip procurements since the prices are too high. Currently, Chinese market players are not actively selling and buying as most of them are still in a holiday mood. On the other hand, buying sentiment from the downstream market remains weak. Approaching the weekend, the trader believes that there would not be many transactions in the market.
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| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 29.72 | July Settlement | -1.25 |
| NYMEX | 23.99 | June Settlement | -0.57 |
| Naphtha | 236 | CFR Japan | -13 |
| Ethylene | 412-420 | CFR NEA | 39 to 41 |
| Ethylene | 397-405 | CFR SEA | 30 |
| Propylene | 697-705 | CFR China | 15 |
| Propylene | 647-655 | FOB Korea | 15 |
Futures Price on Dalian Commodity Exchange (DCE)
| Dalian Futures September 2020 | Today’s Open (CNY/ton) | Previous Trading Day’s Settlement (CNY/ton) | Today’s Settlement (CNY/ton) |
|---|
| PP Raffia | 7,066 | 7,115 | 7,119 |
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 | 8,000 | 7,700-8,000 |
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 | 770-800 | 800-840 |
Tags: Asia Pacific,China,Daily,English,NEA,PP
Published on May 7, 2020 2:47 PM (GMT+8)
Last Updated on May 8, 2020 3:35 PM (GMT+8)
