- Following an uptrend in the futures market, a Shanghai-based trader adjusted up local PE offers on a daily basis. As compared to Thursday’s level, the trader initiated a price increase of between CNY100-200/ton ($14-28/ton) for local LLDPE Film C4 cargoes, while local offers for HDPE Film and LDPE Film were adjusted up by CNY100/ton ($28/ton). In the domestic market, most local producers decided to raise their offers; hence, most traders follow suit. From the import market, the trader received HDPE Film offers from a Thai producer at $5/ton lower than the offer received on Wednesday. As compared to Monday’s level, the latest offers from the producer are available at $25/ton lower at $795/ton on LC at sight, CIF China Main Port basis.
- On the supply front, market sources in China gave details to SSESSMENTS.COM on the latest updates of inventory level of the two leading Chinese polyolefins producers. As of Friday’s morning, the inventory level of polyolefins at both producers recorded at 1.055 million tons, a reduction of 80,000 tons as compared to Thursday’s level. When compared to Monday’s level, it showed a reduction of 125,000 tons.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 29.94 | June Settlement | 5.20 |
| NYMEX | 25.32 | May Settlement | 5.01 |
| Naphtha | 196 | CFR Japan | 30 |
| Ethylene | 478-484 | CFR NEA | No Changes |
| Ethylene | 448-454 | CFR SEA | No Changes |
| Propylene | 587-595 | CFR China | -4 to -6 |
| Propylene | 562-570 | 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 | 5,850 | 5,695 | 5,830 |
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 | 6,100-6,400 | 6,100-6,400 |
| China | 6,400-6,800 | 6,800-6,850 |
| Far East Asia | 6,700 | 6,700 |
| Middle East | 6,400-6,500 | 6,400-6,500 |
LDPE Film, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 6,800-7,200 | 7,000-7,150 |
| Middle East | 6,400-6,700 | 6,400-6,700 |
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 | 5,600-5,950 | 5,850-6,100 |
| Middle East | 6,300 | 6,300 |
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 | 700-730 | 700-730 |
| Southeast Asia | HDPE Film | 680 | 680 |
| Middle East | LDPE Film | 800-820 | 800-820 |
| Middle East | LLDPE Film C4 | 670 | 670 |
| Southeast Asia | LLDPE Film C4 | 720-730 | 700-720 |
Tags: Asia Pacific,China,Daily,English,NEA,PE
Published on April 3, 2020 3:44 PM (GMT+8)
Last Updated on April 3, 2020 3:44 PM (GMT+8)
