- A producer based in Ningbo informed SSESSMENTS.COM that the company decided to reduce local offers for PP Homo Raffia by CNY50/ton as of July 10. Previously, buying sentiment was healthy on Monday and Tuesday as supported by the significant increases in PP prices in the futures market. During that time, sales were satisfactory. However, it was just hedgers hyping the market while demand from converters remains slow. As such, PP prices in the futures market dropped and the producer has to follow suit. Looking ahead, the producer believes that the firm crude oil prices will serve as a cushion for PP Homo Raffia prices from a free fall.
- As of Friday, July 10, SSESSMENTS.COM noted that September 2020 polypropylene (PP) prices on the Dalian Commodity Exchange posted a decrease of CNY80/ton ($11/ton) as observed at 1.24 PM (GMT+8), open at CNY7,712/ton ($1,103/ton) by morning trading session.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 42.35 | September Settlement | -0.94 |
| NYMEX | 39.62 | August Settlement | -1.28 |
| Naphtha | 389 | CFR Japan | -6 |
| Ethylene | 798-804 | CFR NEA | No Changes |
| Ethylene | 748-754 | CFR SEA | No Changes |
| Propylene | 812-820 | CFR China | No Changes |
| Propylene | 762-770 | 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) |
|---|
| PP Raffia | 7,712 | 7,696 | 7,655 |
PP Homo Raffia, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 7,850-8,300 | 7,900-7,950 |
Import PP Homo Raffia on LC at sight, CIF China main port basis
| Origin | Previous Trading Day’s Range (USD/ton) | Today’s Range (USD/ton) |
|---|
| Middle East | 950 | 950 |
Tags: Asia Pacific,China,Daily,English,NEA,PP
Published on July 10, 2020 2:48 PM (GMT+8)
Last Updated on July 10, 2020 2:48 PM (GMT+8)
