DailySSESSMENTS: China PP Price 1st July 2020

Author: SSESSMENTS

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- A Chinese trader contacted by SSESSMENTS.COM’s team unveiled that import PP Homo Raffia offers of India origin for September shipment are available at $910/ton on LC at sight, CIF China main port basis. The current level is down by $10/ton as compared to the offers for July shipment. Although surfaced with a reduction, buyers are still showing resistance towards the cargoes as there are a lot of uncertainties in the market. Taking into account the tension between India and China and the volatile PP market, buyers prefer to procure prompt delivery cargoes. In the local market, PP Homo Raffia prices remain stable over the week. The increases of crude oil prices or PP prices in the futures market has yet to show significant impact on PP Homo Raffia prices in the spot market. Besides, PP Homo Raffia prices are already on the high note without any significant improvement in demand.

- Planned maintenance shutdown reported by a South Korean producer. SSESSMENTS.COM was told that Hanwha Total Petrochemical plans to conduct maintenance shutdown at the company’s 450,000 tons/year PP plant. The plant will be off-stream in September for 10-14 days. However, the producer has not set the exact date yet.

Product	Price (USD)	Terms	Changes From Previous Trading Day (USD)
Brent	41.15	August Settlement	-0.56
NYMEX	39.27	August Settlement	-0.43
Naphtha	371	CFR Japan	12
Ethylene	852-860	CFR NEA	No Changes
Ethylene	787-795	CFR SEA	No Changes
Propylene	793-799	CFR China	4 to 6
Propylene	743-749	FOB Korea	4 to 6