- A trader based in Xiamen told SSESSMENTS.COM that as of July 17, PP Homo Raffia prices in the spot market decreased between CNY50-100/ton ($7-14/ton) following the decreases in the futures market. So far, buyers have not been showing any interest in procuring materials. As of recent, the trader prefers to sell local materials over import. Since there will be new PP capacities coming on-stream in this 2020, China market will less rely upon the imported cargoes, the source added.
- Likewise, another Chinese trader also reported to SSESSMENTS.COM that the company has made a downward correction on local offers. As compared to Thursday’s level, offers for local PP Homo Raffia from the trader decreased by CNY150/ton ($21/ton).
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 43.37 | September Settlement | -0.42 |
| NYMEX | 40.75 | August Settlement | -0.45 |
| Naphtha | 386 | CFR Japan | -5 |
| Ethylene | 798-804 | CFR NEA | No Changes |
| Ethylene | 712-720 | CFR SEA | No Changes |
| Propylene | 818-824 | CFR China | -4 to -6 |
| Propylene | 778-784 | 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 | 7,468 | 7,525 | 7,482 |
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 | 7,800-8,150 | 7,650-7,900 |
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 | 980 |
| Middle East | 940-960* | 940-960* |
Description: *To re-exporters
Tags: Asia Pacific,China,Daily,English,NEA,PP
Published on July 17, 2020 2:44 PM (GMT+8)
Last Updated on July 17, 2020 2:44 PM (GMT+8)
