- A Chinese trader based in Shanghai informed SSESSMENTS.COM on July shipment offers for PE across all grades from a Middle Eastern producer. On June 24, import offers for HDPE Film and LLDPE Film C4 of Middle East origin surfaced with a notable increase of $100/ton and $50/ton, respectively, as compared to June shipment offers. The trader was notified that the producer attempted to raise their offers significantly due to limited allocation from their end. Despite that, the trader decided to take some volume from the producer since the prices are quite competitive compared to other producers’ offers. In the local market, offers for HDPE Film and LDPE Film were stable from last week’s level and is expected to remain firm onwards. The trader assumed that firm local PE prices as of recent and in the days to come may be supported by the delayed shipment of Iranian cargoes. In terms of demand, the current buying sentiment is weakening following the traditional patterns from the agriculture sector.
- On the other side, a Thai PE producer reported to SSESSMENTS.COM that the company’s offers for HDPE Film had increased between $20-30/ton over the week. Meanwhile, offers for LDPE Film and LLDPE Film C4 from the producer remain absent this week. Although it is rather difficult to conclude deals, the producer managed to sell some volume in the China market.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 42.63 | August Settlement | -0.45 |
| NYMEX | 40.37 | August Settlement | -0.36 |
| Naphtha | 363 | CFR Japan | 1 |
| Ethylene | 837-845 | CFR NEA | No Changes |
| Ethylene | 787-795 | CFR SEA | No Changes |
| Propylene | 782-790 | CFR China | No Changes |
| Propylene | 737-745 | 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 | 6,860 | 6,815 | 6,845 |
HDPE Film, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| Central Asia | 8,000-8,100 | 8,000-8,100 |
| China | 7,700 | 7,800-8,000 |
LDPE Film, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| Central Asia | 8,500 | 8,500 |
| China | 8,200 | 8,200-8,400 |
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 | 7,100-7,200 | 7,100-7,200 |
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 | 850-920 | 860 |
| Southeast Asia | HDPE Film | 930 | 930 |
| Middle East | LDPE Film | 915-940 | 915 |
| Middle East | LLDPE Film C4 | 800-820 | 800 |
Tags: Asia Pacific,China,Daily,English,NEA,PE
Published on June 24, 2020 2:33 PM (GMT+8)
Last Updated on June 24, 2020 2:34 PM (GMT+8)
