- A global trading house contacted by SSESSMENTS.COM’s team on May 14 informed that import PP Homo Raffia offers of Saudi origin surfaced with a slight decrease of $5/ton as compared to last week’s level. At the moment, Saudi PP Homo Raffia cargoes are available at $860/ton on LC at sight, CIF China main port basis. The trader further added that some Middle Eastern producers announced June shipment offers earlier than usual as Eid Al-Fitr holiday is around the corner. Besides, as China’s PP market is better than last month, it seems like producers are aiming to hit the sales target before the holiday.
- Whereas in the domestic market, a local trader informed SSESSMENTS.COM that the average operating rate of the downstream factories is between 40-50%. Demand from the export market is mostly supported by medical-related products. While in the local market, demand remains soft. For the near-term outlook, the trader predicts that manufacturers will only procure on a hand-to-mouth basis.
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WeeklySSESSMENTS: China PE Prices W/C May 4
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 29.19 | July Settlement | -0.79 |
| NYMEX | 25.29 | June Settlement | -0.49 |
| Naphtha | 226 | CFR Japan | -11 |
| Ethylene | 568-574 | CFR NEA | 64 to 66 |
| Ethylene | 468-474 | CFR SEA | 9 to 11 |
| Propylene | 748-754 | CFR China | 5 |
| Propylene | 703-709 | 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) |
|---|
| PP Raffia | 6,900 | 6,855 | 6,864 |
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 | 7,300-7,600 | 7,400-7,700 |
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 | 820-830 | 860 |
Tags: Asia Pacific,China,Daily,English,NEA,PP
Published on May 14, 2020 2:21 PM (GMT+8)
Last Updated on May 14, 2020 2:21 PM (GMT+8)
