- In the domestic market, one of the Chinese traders has adjusted down its local PP offers further in line with downward momentum in Dalian Futures market. As compared to Tuesday's level, the trader has announced a fresh price list with a reduction of between CNY200-1,000/ton ($28-141/ton) for local PP Homo Raffia across different grades. The significant decrease of CNY1,000/ton ($141/ton) was captured on offers for PP Homo Raffia grade Z30S.
- From the import market, market talks have it that a Taiwanese producer has announced May shipment offers to China market. For PP Homo Raffia, the latest offers emerged in the market at $900/ton on LC at sight, China Main Port basis. On the supply front, market sources in China shared with SSESSMENTS.COM on the latest updates of inventory level of the two leading Chinese polyolefins producers. As of Wednesday, April 22, the polyolefins inventory level at both producers recorded at 960,000 tons, no changes from Tuesday's level.
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| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 19.33 | June Settlement | -6.24 |
| NYMEX | 10.01 | May Settlement | 47.64 |
| Naphtha | 184 | CFR Japan | -12 |
| Ethylene | 328-334 | CFR NEA | -54 to -56 |
| Ethylene | 328-334 | CFR SEA | -14 to -16 |
| Propylene | 653-659 | CFR China | -9 to -11 |
| Propylene | 603-609 | 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 | 6,500 | 6,633 | 6,436 |
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 | 7,400-7,600 | 7,000-7,400 |
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 | 750-780 | 750-780 |
Tags: Asia Pacific,China,Daily,English,NEA,PP
Published on April 22, 2020 3:15 PM (GMT+8)
Last Updated on April 22, 2020 3:15 PM (GMT+8)
