- A Chinese producer quoted lower offers for local PP cargoes to the domestic market this week, taking account of market movement in the previous week. As compared to last week’s level, the producer applied a price reduction of between CNY100-125/ton ($14-18/ton) on local PP Homo Raffia cargoes. SSESSMENTS.COM was informed that the latest offers from the producer’s end are ranging between CNY8,125-8,150/ton ($1,163-1,166/ton) on cash, EXW China basis and including 13% VAT.
- From the import market, a South Korean producer has reportedly sold most of their PP allocation for August shipment to China in the previous week. However, the producer is facing difficulties in concluding deals in the market this week as buying sentiment is weakening. As stated to SSESSMENTS.COM, current August shipment offers for PP Homo Raffia from the producer’s end are available at $970/ton on LC at sight, CIF China Main Port basis, a rollover from last week’s level.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 44.32 | September Settlement | 1.04 |
| NYMEX | 41.96 | August Settlement | 1.15 |
| Naphtha | 392 | CFR Japan | 5 |
| Ethylene | 798-804 | CFR NEA | No Changes |
| Ethylene | 712-720 | CFR SEA | No Changes |
| Propylene | 823-829 | CFR China | No Changes |
| Propylene | 783-789 | 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 | 7,471 | 7,490 | 7,522 |
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 | 7,650-8,000 | 7,650-8,150 |
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 | - | 970 |
| Middle East | 950 | 950 |
Tags: Asia Pacific,China,Daily,English,NEA,PP
Published on July 22, 2020 2:56 PM (GMT+8)
Last Updated on July 22, 2020 3:11 PM (GMT+8)
