- A Chinese trader stated to SSESSMENTS.COM that demand for HDPE Film, LDPE Film, and LLDPE Film C4 in the domestic China market remains sluggish during the week, without any sign of improvement. As demand is not supportive, it will suppress PE prices further. Added to that, the anticipation of an abundant supply for local and import cargoes is dragging down the market sentiment. As such, the trader opined that a downward price adjustment is inevitable. However, the trader will remain cautious as producers might adjust up the offers citing the tight availability at their end.
- Another trader commented on the previous supply issues at the leading Indonesian polyolefins producer. Last week, import HDPE Film offers of Indonesia origin to China market were available between $920-930/ton on LC at sight, CIF China main port basis. Referring to last week’s offers, the trader estimated that import HDPE Film offers for this week could be at $910/ton with the same payment and shipment term. However, Chinese buyers will most likely lose their interest in Indonesian cargoes, due to the previous cancellation on LLDPE Film C4 for July shipment from the producer’s end. SSESSMENTS.COM was told that to date, the producer has yet to give any compensation for the order cancellation.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 43.31 | September Settlement | -0.98 |
| NYMEX | 41.07 | September Settlement | -0.83 |
| Naphtha | 392 | CFR Japan | -1 |
| Ethylene | 798-804 | CFR NEA | No Changes |
| Ethylene | 712-720 | CFR SEA | No Changes |
| Propylene | 823-829 | CFR China | No Changes |
| Propylene | 783-789 | 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 | 7,005 | 6,980 | 6,975 |
HDPE Film, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 8,300-8,400 | 8,300-8,400 |
| Middle East | 8,800-9,000 | 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 | 8,400-8,500 | 8,400-8,500 |
| Middle East | 8,900-9,100 | 8,900-9,100 |
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 | 7,100-7,350 | 7,100-7,350 |
| Middle East | 7,600 | 7,600 |
Import on LC at sight, CIF/CFR China main port basis
| Origin | Product | Previous Trading Day’s Range (USD/ton) | Today’s Range (USD/ton) |
|---|
| Far East Asia | HDPE Film | 920-970 | 920-970 |
| Middle East | HDPE Film | 920 | 920 |
| Southeast Asia | HDPE Film | 960 | 960 |
| Middle East | LDPE Film | 990 | 990 |
| Middle East | LLDPE Film C4 | 840-860 | 840-860 |
| Southeast Asia | LLDPE Film C4 | 880-885 | 880-890 |
Tags: Asia Pacific,China,Daily,English,NEA,PE
Published on July 24, 2020 2:50 PM (GMT+8)
Last Updated on July 24, 2020 2:50 PM (GMT+8)
