- A Chinese trader informed SSESSMENTS.COM that despite some increases in LLDPE futures as of July 20, the company decided to maintain stable spot offers for local and localized Middle Eastern PE cargoes on a weekly comparison as converters still show resistance towards high prices. The trader opined that domestic PE prices will eventually go down since supply at the two leading Chinese polyolefins producers has started to accumulate. As of Monday morning, July 20, the inventory level stood at 780,000 tons, an increase of 55,000 tons compared to last Friday’s level.
- From the import market, a trader stated to SSESSMENTS.COM that so far, no fresh offers received yet. From the company’s end, offers for import Middle Eastern PE cargoes remain unchanged from last week. Offers for Middle Eastern HDPE Film and LDPE Film cargoes stand at $950-980/ton and $960-990/ton, respectively on LC at sight, CIF China Main Port basis. While offers for Middle Eastern LLDPE Film C4 are available at $840-860/ton on the same payment and delivery term. According to the trader, the delayed Iranian cargoes still provide support to the PE market.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 43.14 | September Settlement | -0.23 |
| NYMEX | 40.59 | August Settlement | -0.16 |
| Naphtha | 384 | CFR Japan | -2 |
| Ethylene | 798-804 | CFR NEA | No Changes |
| Ethylene | 712-720 | CFR SEA | No Changes |
| Propylene | 818-824 | CFR China | No Changes |
| Propylene | 778-784 | 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 | 7,085 | 7,085 | 7,085 |
HDPE Film, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 8,400-8,600 | 8,400-8,600 |
| Middle East | - | 8,800-9,000 |
LDPE Film, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 8,750-9,100 | 8,750-8,850 |
| Middle East | 9,200 | 9,000-9,200 |
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 | 7,200-7,400 | 7,200-7,350 |
| Middle East | - | 7,500 |
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 | 920-950 | 950-980 |
| Middle East | LDPE Film | 985 | 960-990 |
| Middle East | LLDPE Film C4 | 830-880 | 840-860 |
Tags: Asia Pacific,China,Daily,English,Freemium,NEA,PE
Published on July 20, 2020 3:00 PM (GMT+8)
Last Updated on October 1, 2020 2:29 PM (GMT+8)
