- A trader based in Ningbo informed SSESSMENTS.COM that the speculation in PP Homo Fiber market has been weakened. As such, the PP market is back to supply and demand issues. At the moment, the production rate for PP Homo Raffia at the two leading Chinese polyolefins producers is around 28% from normal capacity. Considering the current production rate, more PP Homo Raffia cargoes will be available in the market around May 1, and the supply will be back to normal. Demand-wise, at the moment most market players still prefer to wait on the sidelines due to a lot of uncertainties in the market.
- On the supply side, market sources in China informed SSESSMENTS.COM the inventory level of the two leading Chinese polyolefins producers stood at 770,000 tons as of Tuesday morning, a reduction of 30,000 tons from Monday’s level.
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| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 19.99 | June Settlement | -1.45 |
| NYMEX | 12.78 | June Settlement | -4.16 |
| Naphtha | 193 | CFR Japan | -2 |
| Ethylene | 352-360 | CFR NEA | No Changes |
| Ethylene | 328-334 | CFR SEA | No Changes |
| Propylene | 678-684 | CFR China | 14 to 16 |
| Propylene | 628-634 | FOB Korea | 14 to 16 |
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 | 6,855 | 6,953 | 6,893 |
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 | 7,200-7,450 | 7,400-7,650 |
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 | 770-780 | 770-800 |
Tags: Asia Pacific,China,Daily,English,NEA,PP
Published on April 28, 2020 3:03 PM (GMT+8)
Last Updated on April 28, 2020 3:12 PM (GMT+8)
