- China’s domestic PE prices have gained some strength, buoyed by a rebound in crude oil prices and firmer futures market. As crude oil prices have been rallying, most producers and traders are attempting to raise the price since the beginning of the week. However, as of Tuesday, most buyers started to show resistance on high-end level of the price range. On Wednesday, May 20, a Chinese trader has adjusted up its LDPE Film and LLDPE Film C4 further following the uptrend in the futures market. As compared to Tuesday's level, the trader applied a price increase of between CNY50-200/ton ($7-28/ton) for LDPE Film, while offers for LLDPE Film C4 were adjusted up by CNY50/ton ($7/ton). However, the trader maintained a stable offer level for HDPE Film grade as compared to the same period.
- On the supply side, market sources based in China reported to SSESSMENTS.COM regarding the latest updates of the inventory level of the two leading polyolefins producers in the country. As of Wednesday, May 20, the inventory level of polyolefins at both producers stood at 800,000 tons, a reduction of 45,000 tons from Tuesday’s level.
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| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 34.65 | July Settlement | -0.16 |
| NYMEX | 32.50 | June Settlement | 0.68 |
| Naphtha | 259 | CFR Japan | -1 |
| Ethylene | 603-609 | CFR NEA | 4 to 6 |
| Ethylene | 538-544 | CFR SEA | 4 to 6 |
| Propylene | 768-774 | CFR China | 15 |
| Propylene | 718-724 | FOB Korea | 10 |
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 | 6,365 | 6,435 | 6,410 |
HDPE Film, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 7,400 | 7,100-7,400 |
LDPE Film, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 7,000-7,500 | 7,200-7,550 |
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 | 6,550-6,700 | 6,450-6,700 |
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 | 820 | 820 |
| Middle East | LDPE Film | 820-825 | 820-825 |
| Middle East | LLDPE Film C4 | 780 | 780 |
| Southeast Asia | LLDPE Film C4 | 800 | 800 |
Tags: Asia Pacific,China,Daily,English,NEA,PE
Published on May 20, 2020 3:00 PM (GMT+8)
Last Updated on May 20, 2020 3:01 PM (GMT+8)
