- A Chinese trader contacted by SSESSMENTS.COM commented regarding the explosion at LG Chem, one of the top PP suppliers to China. The source mentioned that the accident at the producer’s plant located in Daesan only affects supply for metallocene PP. As such, spot PP Homo Raffia prices would not be affected. However, it might affect PP prices in the futures market.
- A Chinese coal-based PP Homo Raffia producer informed SSESSMENTS.COM that the offers from the producer have increased by CNY150/ton ($21/ton) compared to a day earlier. The source has some confidence to adjust up the offers as supported by the increases of PP prices in the futures market and the absence of inventory pressure. Looking ahead, the producer opined that PP prices would remain stable until the end of May. While in June and July, PP prices have a big room to decrease. First, June to July is the traditional low season for PP, and at the same time, imported materials from the US and India will arrive at China ports. Second, the tension between China and the US will add many uncertainties in the market.
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| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 34.65 | July Settlement | -0.16 |
| NYMEX | 32.5 | June Settlement | 0.68 |
| Naphtha | 259 | CFR Japan | -1 |
| Ethylene | 603-609 | CFR NEA | 4 to 6 |
| Ethylene | 538-544 | CFR SEA | 4 to 6 |
| Propylene | 768-774 | CFR China | 15 |
| Propylene | 718-724 | FOB Korea | 10 |
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 | 6,978 | 7,016 | 7,056 |
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 | 7,500-7,800 | 7,550-7,700 |
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 20, 2020 3:17 PM (GMT+8)
Last Updated on May 20, 2020 3:17 PM (GMT+8)
