- As of Monday, July 6, SSESSMENTS.COM noted that September 2020 LLDPE prices on the Dalian Commodity Exchange posted a significant increase of CNY235/ton ($33/ton) as observed at 2.20 PM (GMT+8), open at CNY7,000/ton ($990/ton) by morning trading session. In response to strong gains in the futures market, a Chinese trader initiated a price increase of CNY100/ton ($14/ton) on local LDPE Film and LLDPE Film C4 as compared to last Friday’s levels. Upstream, crude oil prices captured in a mixed direction on Monday trading session, with global benchmark Brent crude trending higher as supported by tighter supply, while U.S. benchmark WTI futures slid on concern that the second wave of coronavirus infections could put a damper on oil demand in the U.S.
- On the supply front, market sources in China revealed to SSESSMENTS.COM on the latest updates of inventory level of the two leading Chinese polyolefins producers. According to the sources, the total inventory level at both producers recorded an increase of 70,000 tons from last Friday’s level, stood at 735,000 tons as of Monday morning.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 42.90 | September Settlement | 0.23 |
| NYMEX | - | August Settlement | No Settlement* |
| Naphtha | - | CFR Japan | No Settlement* |
| Ethylene | 877-885 | CFR NEA | No Changes |
| Ethylene | 787-795 | CFR SEA | No Changes |
| Propylene | 807-815 | CFR China | 5 |
| Propylene | 757-765 | FOB Korea | 5 |
Description: *No settlement due to U.S Independence Day
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 | 7,000 | 6,950 | 7,085 |
HDPE Film, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 8,000-8,200 | 8,000 |
| Middle East | 8,400 | 8,300-8,350 |
LDPE Film, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 8,500-8,600 | 8,600-8,750 |
| Middle East | 8,500-8,600 | 8,600-8,700 |
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 | 7,050-7,200 | 7,150-7,300 |
| Middle East | 7,300 | 7,300-7,400 |
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 | 870 | 900-920 |
| Middle East | LDPE Film | 910 | 910-950 |
| Middle East | LLDPE Film C4 | 830-880 | 820-840 |
Tags: Asia Pacific,China,Daily,English,NEA,PE
Published on July 6, 2020 2:33 PM (GMT+8)
Last Updated on July 6, 2020 2:33 PM (GMT+8)
