Futures Price on Dalian Commodity Exchange (DCE)
PP Homo Raffia, on cash, EXW China basis, including 13% VAT
Import PP Homo Raffia on LC at sight, CIF/CFR China main port basis
- A trader based in China reported to SSESSMENTS.COM that supply for PP Homo Raffia is limited and the increase in propylene prices also support the firm offers. The PP Homo Raffia offers from the trader’s end has increased by CNY50-100/ton ($7-14/ton) compared to offers available last week. The trader disclosed that the fast decline of PP inventory is not associated with the good demand from the downstream market. As revealed, most distributors were selling the inventory to the middleman not to converters, since they need to achieve monthly sales target.
- While in the import market, SSESSMENTS.COM was told that the leading Indian petrochemical producer will reduce its PP allocation to the export market since the company will focus on selling to the domestic market following lockdown relaxations in the country. Previously, the producer allocated more to the export market; around 75% of the total allocation for May and June shipment was sold to export market, especially China. Onwards, the export market will only get 40% of the total production volume. For the pricing outlook, the producer source opined that import PP prices have room to go down considering the huge amount of imported cargoes that will be arrived in the China ports in the near term.
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Tags: Asia Pacific,China,Daily,English,PP
Published on May 27, 2020 3:27 PM (GMT+8)Last Updated on May 27, 2020 6:37 PM (GMT+8)
