- A local producer in China informed SSESSMENTS.COM that PP Homo Raffia offers from the company’s end moved up by CNY50-150/ton ($7-21/ton) on the weekly comparison and currently stand between CNY8,125-8,225/ton ($1,160-1,174/ton) on cash, EXW China basis and including 13% VAT. According to the producer, the price increases were mostly triggered by the bullish sentiment for PP in the domestic market.
- Whereas from the import market, a South Korean PP producer has announced August shipment offers to China. Following firm propylene price coupled with the uptrend in the international market, the producer increased PP Homo Raffia offers by $30/ton compared to July shipment. Currently, the producer is still waiting for orders’ confirmation from buyers. However, the current offers at $980/ton on LC at sight, CIF China Main Port basis are deemed too high by some buyers, as stated to SSESSMENTS.COM.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 43.24 | September Settlement | 0.89 |
| NYMEX | 40.55 | August Settlement | 0.93 |
| Naphtha | 395 | 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 | 7,650 | 7,655 | 7,692 |
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 | 7,900-7,950 | 7,900-8,225 |
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) |
|---|
| Far East Asia | - | 980* |
| Middle East | 950 | 950 |
Description: *August shipment offers
Tags: Asia Pacific,China,Daily,English,NEA,PP
Published on July 13, 2020 2:37 PM (GMT+8)
Last Updated on July 13, 2020 4:29 PM (GMT+8)
