- A Chinese trader contacted by SSESSMENTS.COM revealed that the company maintains import offers for PP Homo Raffia of India origin stable over the week, at $920/ton on LC at sight, CIF China main port basis. While in the local market, the decline of PP price in the futures market has dragged down PP Homo Raffia offers in the spot market. In line with the downturn in prices coupled with the slow sales for the end-products, buyers are losing their confidence to procure PP resins. The trader stated a bleak outlook for China’s PP market as there are no supporting factors so far.
- In the futures market, September 2020 Polypropylene futures on the Dalian Commodity Exchange decreased CNY102/ton ($14.5/ton) week on week, settling at CNY7,522/ton ($1,075/ton) ex-warehouse by Wednesday settlement.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 44.29 | September Settlement | -0.03 |
| NYMEX | 41.9 | September Settlement | -0.02 |
| Naphtha | 393 | CFR Japan | 1 |
| 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 | 7,470 | 7,522 | 7,449 |
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 | 7,650-8,150 | 7,850-7,950 |
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 | 970 |
| Middle East | 950 | 950 |
Tags: Asia Pacific,China,Daily,English,NEA,PP
Published on July 23, 2020 2:45 PM (GMT+8)
Last Updated on July 23, 2020 2:45 PM (GMT+8)
