DailySSESSMENTS: China PP Price 11th June 2020

Author: SSESSMENTS

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- In the local market, a local trader commented that PP Homo Raffia prices are mostly stable on June 11. Over the week, PP Homo Raffia prices were showing limited changes, fluctuating between CNY100-200/ton ($14-28/ton). In terms of demand, at the moment, China PP market is still struggling to revive from COVID-19 impact. Restaurant, hotels, and the tourism sector are still battered by the pandemic, as well as some foreign trading sectors. Demand from the medical-related sector still becomes the main contributor to the highest demand for PP resins. Other than that, the demand for essential products such as food packaging also remains healthy. In general, Chinese PP market players are still on a cautious stance as the economy has not fully recovered.

- In the import market, a Chinese trader told SSESSMENTS.COM pertaining to the latest offers for import PP Homo Raffia of India origin. According to the trader, offers for import PP Homo Raffia from the leading Indian petrochemical are available at $900/ton on LC at sight, CIF China main port basis. So far, no deals were concluded as the offers were deemed too high.

Product	Price (USD)	Terms	Changes From Previous Trading Day (USD)
Brent	41.73	August Settlement	0.55
NYMEX	39.60	July Settlement	0.66
Naphtha	351	CFR Japan	5
Ethylene	803-809	CFR NEA	54 to 56
Ethylene	753-759	CFR SEA	49 to 51
Propylene	773-779	CFR China	No Changes
Propylene	733-739	FOB Korea	No Changes