- A Chinese trader reported to SSESSMENTS.COM that buying sentiment for PE resins remains bearish this week since most buyers are still procuring on a hand-to-mouth basis. Besides, demand for finished products has yet to pick up as of recent; which causes the slow digestion of raw materials. On the supply front, as of July 2, the inventory level of the two leading Chinese polyolefins producers recorded at 670,000 tons, decreased by 45,000 tons from a day earlier.
- A global trading house informed SSESSMENTS.COM on the latest offers for HDPE Film, LDPE Film, and LLDPE Film C4 to the China market. From a United Arab Emirates producer, July shipment offers for HDPE Film surged by $110/ton, whereas LDPE Film and LLDPE Film C4 cargoes raised by $90/ton and $60/ton, respectively. All compared to June shipment offers. At the moment, the allocations for HDPE Film are already sold out. Behind the sold-out achievement, the trader explained that the producer’s offers for HDPE Film are quite lower compared to others, on the other side, the shortage of HDPE Film in the China market persists amid the delay in shipment of Iranian PE cargoes.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 42.03 | September Settlement | 0.76 |
| NYMEX | 39.82 | August Settlement | 0.55 |
| Naphtha | 383 | CFR Japan | 12 |
| Ethylene | 877-885 | CFR NEA | 25 |
| Ethylene | 787-795 | CFR SEA | No Changes |
| Propylene | 802-810 | CFR China | 9 to 11 |
| Propylene | 752-760 | FOB Korea | 9 to 11 |
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 | 6,890 | 6,890 | 6,875 |
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 | 7,950-8,400 | 7,950-8,400 |
| China | 8,000-8,200 | 8,000-8,200 |
LDPE Film, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 8,450-8,550 | 8,450-8,550 |
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 | 7,000-7,100 | 7,000-7,100 |
Import on LC at sight, CIF China main port basis
| Origin | Product | Previous Trading Day’s Range (USD/ton) | Today’s Range (USD/ton) |
|---|
| Central Asia | HDPE Film | 950*-955* | 950*-955* |
| Far East Asia | HDPE Film | 920 | 920 |
| Middle East | HDPE Film | 860 | 870 |
| Middle East | LDPE Film | 915 | 910 |
| Middle East | LLDPE Film C4 | 800 | 830-880 |
| Southeast Asia | LLDPE Film C4 | 870 | 870 |
Description: *Offers on TT payment term
Tags: Asia Pacific,China,Daily,English,NEA,PE
Published on July 2, 2020 2:54 PM (GMT+8)
Last Updated on July 2, 2020 2:55 PM (GMT+8)
