- A Xiamen-based trader informed SSESSMENTS.COM that PP Homo Raffia offers from local producers moved up by CNY200/ton ($29/ton) on a weekly comparison supported by the absence of inventory pressure coupled with higher feedstock prices. Follow suit, offers for PP Homo Raffia cargoes from the trader increased by CNY150-250/ton ($21-35/ton) compared to the same period and stood at CNY7,800-8,000/ton ($1,097-1,125/ton) on cash, EXW China basis and including 13% VAT. More added, buying sentiment in the country is flat, however, the trader still managed to conclude some deals every day. The trader opined that PP prices will be stable in the near term as supported by firmer feedstock prices.
- While for the import market, another trader commented to SSESSMENTS.COM that an Indian polyolefins producer has announced June shipment offers to China. Current offers for PP Homo Raffia stand at $855/ton on LC at sight, CIF Huangpu Port. However, the trader is not interested in taking the cargoes as citing the offer is too high.
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| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 36.06 | July Settlement | 0.31 |
| NYMEX | 33.92 | June Settlement | 0.43 |
| Naphtha | 267 | CFR Japan | 1 |
| Ethylene | 612-620 | CFR NEA | No Changes |
| Ethylene | 552-560 | CFR SEA | No Changes |
| Propylene | 783-789 | CFR China | 15 |
| Propylene | 733-739 | FOB Korea | 15 |
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 | 7,180 | 7,183 | 7,108 |
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 | 7,550-7,700 | 7,800-8,000 |
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 | 890 | 890 |
Tags: Asia Pacific,China,Daily,English,NEA,PP
Published on May 22, 2020 2:49 PM (GMT+8)
Last Updated on May 22, 2020 2:49 PM (GMT+8)
