- A polyolefins producer in China revealed to SSESSMENTS.COM that the company made adjustments on PP Homo Raffia offers this week. As compared to last week, offers from the producer for the product increased by CNY50/ton ($7/ton). Hence, the current offers stand between CNY8,050-8,100/ton ($1,136-1,143/ton) on cash, EXW East and South China basis and including 13% VAT.
- Pertaining to PP demand, a trader in China commented to SSESSMENTS.COM that buyers are cautious in making purchases nearing the traditional low season. The trader added that the outlook for PP prices in China in the second half of 2020 is not positive considering the new capacity. The trader mentioned that Liaoning Baolai will conduct a trial run at the company’s two PP lines with a total capacity of 600,000 tons/year on July 20. Zhongke Petrochemical also plans to bring its two PP lines with a total capacity of 550,000 tons/year on stream in July.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 38.73 | August Settlement | 0.18 |
| NYMEX | 36.26 | July Settlement | -0.08 |
| Naphtha | 338 | CFR Japan | No Changes |
| Ethylene | 803-809 | CFR NEA | No Changes |
| Ethylene | 753-759 | CFR SEA | No Changes |
| Propylene | 763-769 | CFR China | -10 |
| Propylene | 728-734 | 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 | 7,337 | 7,273 | 7,336 |
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 | 7,750-7,850 | 7,850-8,100 |
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 | 900 | 870-900 |
Tags: Asia Pacific,China,Daily,English,NEA,PP
Published on June 15, 2020 2:57 PM (GMT+8)
Last Updated on June 15, 2020 2:57 PM (GMT+8)
