- China stocks entered the bull-market territory, with stock indexes surged on Monday for their biggest one-day gain in half a decade. The Shanghai stock market jumped 5.7% after a front-page editorial in the state-owned China Securities Journal essentially said that it is a good time to buy stocks. Dalian Commodity Exchange accelerated gains following the bullish market witnessed in China stocks market. As of Wednesday, July 8, SSESSMENTS.COM noted that September 2020 LLDPE prices on the Dalian Commodity Exchange posted a significant increase by CNY190/ton ($27/ton) as observed at 1 PM GMT+8, open at CNY7,265/ton ($1,035/ton) by morning trading session. In response to recent gains in the futures market, a Chinese trader initiated a price increase of between CNY100-200/ton ($14-28/ton) for local HDPE Film, LDPE Film, and LLDPE Film C4 cargoes as compared to Tuesday’s level.
- From the import market, a global trading house reported to SSESSMENTS.COM that a Thai PE producer has announced offers for early August shipment. As informed, the trader received offers for LLDPE Film C4 from the producer at $910/ton, or $40/ton higher as compared to offer level available last week. Deals were successfully concluded at the initial offer level. As for HDPE Film, the trader mentioned that current offers are hovering above $1,000/ton-level, captured at $1,015/ton, with deals achieved at the initial level to slightly lower by $5/ton. All offers are on LC at sight, CIF China Main Port basis.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 43.08 | September Settlement | -0.02 |
| NYMEX | 40.62 | August Settlement | -0.01 |
| Naphtha | 395 | CFR Japan | 1 |
| Ethylene | 837-845 | CFR NEA | -9 to -11 |
| Ethylene | 767-775 | CFR SEA | -9 to -11 |
| Propylene | 812-820 | CFR China | 5 |
| Propylene | 762-770 | FOB Korea | 5 |
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 | 7,265 | 7,245 | 7,380 |
HDPE Film, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 8,100 | 8,200-8,400 |
| Middle East | 8,300-8,350 | 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 | 8,800-8,950 | 8,850-9,150 |
| Middle East | 8,600-8,700 | 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 | 7,350-7,500 | 7,400-7,600 |
| Middle East | 7,300-7,400 | 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 | 900-920 | 900-920 |
| Southeast Asia | HDPE Film | - | 1,010-1,015 |
| Middle East | LDPE Film | 910-950 | 910-960 |
| Middle East | LLDPE Film C4 | 820-840 | 820-840 |
| Southeast Asia | LLDPE Film C4 | - | 910 |
Tags: Asia Pacific,China,Daily,English,NEA,PE
Published on July 8, 2020 2:30 PM (GMT+8)
Last Updated on July 8, 2020 2:30 PM (GMT+8)
