- A Chinese trader contacted by SSESSMENTS.COM informed that most downstream factories in China are still struggling to keep operating rates at a normal level amid falling export orders and sluggish demand. The trader foresees that the China PP prices will face mounting pressure from sluggish downstream demand. On a week-on-week comparison, the trader has initiated a price reduction of between CNY100-200/ton ($14-28/ton) for local PP Homo Raffia offers. The latest offers from the trader are available between CNY7,300-7,400/ton ($1,026-1,056/ton) on cash, EXW China basis and including 13% VAT.
- Similarly, another local trader in China informed SSESSMENTS.COM on revising down its local offers further. As compared to Thursday’s level, the trader has announced a fresh price list with a reduction of CNY100/ton ($14/ton) for local PP Homo Raffia. Current PP Homo Raffia offers from the trader are available between CNY7,300-7,500/ton ($1,026-1,056/ton) on cash, EXW China basis and including 13% VAT.
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| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 31.13 | July Settlement | 1.94 |
| NYMEX | 27.56 | June Settlement | 2.27 |
| Naphtha | 237 | CFR Japan | 11 |
| Ethylene | 577-585 | CFR NEA | 9 to 11 |
| Ethylene | 477-485 | CFR SEA | 9 to 11 |
| Propylene | 748-754 | CFR China | No Changes |
| Propylene | 703-709 | 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 | 6,880 | 6,864 | 6,898 |
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 | 7,400-7,700 | 7,300-7,500 |
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 | 860 | 860 |
Tags: Asia Pacific,China,Daily,English,NEA,PP
Published on May 15, 2020 3:11 PM (GMT+8)
Last Updated on May 15, 2020 3:14 PM (GMT+8)
