- This week, a Chinese producer noticed that local prices are mostly on a soft note. At the beginning of the week, local offers for HDPE Film, LDPE Film, and LLDPE Film C4 recorded down by CNY100/ton ($14/ton) on a weekly comparison. But ever since Wednesday, the prices remain stable compared to the beginning of the week following the firmer futures prices. Speaking of the demand, the producer informed SSESSMENTS.COM that the overall sales for PE resins in the domestic market are quite good this week.
- On the other side, a trader based in China revealed to SSESSMENTS.COM that localized offers for South Korean and Malaysian LLDPE Film C4 as well as Indian LDPE Film cargoes edged down between CNY100-200/ton ($14-28/ton) on a weekly comparison. Recently, there is no significant change in the market; most traders only keep up with producers’ pricing strategy while converters purchase materials with general enthusiasm just to maintain normal production. If there is no significant improvement in demand, the trader believes that PE prices will move further down in the near term due to the pressure from low-priced import PE cargoes.
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| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 31.13 | July Settlement | 1.94 |
| NYMEX | 27.56 | June Settlement | 2.27 |
| Naphtha | 237 | CFR Japan | 11 |
| Ethylene | 577-585 | CFR NEA | 9 to 11 |
| Ethylene | 477-485 | CFR SEA | 9 to 11 |
| Propylene | 748-754 | CFR China | No Changes |
| Propylene | 703-709 | FOB Korea | No Changes |
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) |
|---|
| LLDPE | 6,295 | 6,275 | 6,335 |
HDPE Film, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 7,300-7,600 | 7,300-7,600 |
| Central Asia | 7,200 | 7,200 |
| Middle East | 7,500 | 7,500 |
LDPE Film, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 7,000-7,400 | 7,000-7,400 |
| Central Asia | 7,000 | 7,000 |
| Middle East | 7,800 | 7,800 |
LLDPE Film C4, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 6,400-6,600 | 6,400-6,500 |
| Central Asia | 6,400-6,500 | 6,400-6,500 |
| Middle East | 6,820 | 6,820 |
Import on LC at sight, CIF China main port basis
| Origin | Product | Previous Trading Day’s Range (USD/ton) | Today’s Range (USD/ton) |
|---|
| Middle East | HDPE Film | 735-760 | 735-760 |
| Southeast Asia | HDPE Film | 810 | 810 |
| Middle East | LDPE Film | 820-825 | 820-825 |
| Middle East | LLDPE Film C4 | 780 | 780 |
| Southeast Asia | LLDPE Film C4 | 790 | 790 |
Tags: Asia Pacific,China,Daily,English,NEA,PE
Published on May 15, 2020 2:28 PM (GMT+8)
Last Updated on May 15, 2020 2:28 PM (GMT+8)
