- A Chinese trader revealed to SSESSMENTS.COM that Chandra Asri Petrochemical (CAP), the leading Indonesian polyolefins producer has cancelled all outstanding orders for LLDPE Film C4 cargoes to China market. The volumes are estimated around 20,000 tons. According to the trader, the cancellation would not affect China market as the quantity is insignificant. However, traders who source from the producer will face huge losses as finding a replacement for these cargoes will be difficult. Moreover, PE offers of Middle East origin are scarce due to a tight supply at the suppliers’ end.
- On the supply side, market sources informed SSESSMENTS.COM that as of Monday morning, June 29, the inventory level of the two leading Chinese polyolefins producers recorded at 705,000 tons, increased by 50,000 tons from last Wednesday, June 24 level.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 41.02 | August Settlement | -0.03 |
| NYMEX | 38.49 | August Settlement | -0.23 |
| Naphtha | 359 | CFR Japan | No Changes |
| Ethylene | 848-854 | CFR NEA | 9 to 11 |
| Ethylene | 787-795 | CFR SEA | No Changes |
| Propylene | 778-784 | CFR China | -4 to -6 |
| 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 | 6,810 | 6,845 | 6,790 |
HDPE Film, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 7,800-8,000 | 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) |
|---|
| China | 8,200-8,400 | 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 | 6,900-7,000 | 6,900-7,000 |
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 | 860 | 860 |
| Southeast Asia | HDPE Film | 930 | 930 |
| Middle East | LDPE Film | 915 | 915 |
| Middle East | LLDPE Film C4 | 800 | 800 |
Tags: Asia Pacific,China,Daily,English,NEA,PE
Published on June 29, 2020 2:29 PM (GMT+8)
Last Updated on June 29, 2020 3:30 PM (GMT+8)
