- After the rally last week, China PP market continues to cool down. A Chinese trader informed SSESSMENTS.COM that the local PP Homo Raffia offers from their end slightly dropped this morning between CNY50-100/ton ($7-14/ton) from last Friday’s level, following the softer futures prices. Speaking of import offers, Middle Eastern PP Homo Raffia cargoes from the trader’s end are offered at $750-780/ton on LC at sight, CIF China Main Port basis.
- On April 20, SSESSMENTS.COM noted that May 2020 PP contract in the Dalian Community Exchange opened at CNY6,820/ton ($964/ton), dropped by CNY62/ton ($9/ton) from last Friday’s settlement.
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WeeklySSESSMENTS: China PP Prices W/C April 13
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 28.08 | June Settlement | 0.26 |
| NYMEX | 18.27 | May Settlement | -1.6 |
| Naphtha | 198 | CFR Japan | 5 |
| Ethylene | 393-399 | CFR NEA | -4 to -6 |
| Ethylene | 347-355 | CFR SEA | No Changes |
| Propylene | 668-674 | CFR China | -9 to -11 |
| Propylene | 618-624 | FOB Korea | -9 to -11 |
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 | 6,820 | 6,882 | 6,798 |
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 | 7,500-8,000 | 7,400-7,800 |
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 | 810-830 | 750-780 |
Tags: Asia Pacific,China,Daily,English,Middle East,NEA,PP
Published on April 20, 2020 4:26 PM (GMT+8)
Last Updated on April 20, 2020 4:27 PM (GMT+8)
