- A trader informed SSESSMENTS.COM that the company’s offers for local PP Homo Raffia cargoes are stable compared to last week. Despite the firm offers, the trader stated that demand remains slow. As explained, converters are only making procurements if there are some low offers available just to cover the production needs.
- Another trader reported to SSESSMENTS.COM that the offers for import PP Homo Raffia cargoes from the leading Indian petrochemical producer increased by $60/ton on a weekly comparison, currently available at $860/ton on LC at sight, CIF China Main Port basis. The trader opined that the upward price adjustment might be supported by the satisfactory demand in India’s domestic market as the lockdown is eased and businesses started to resume. However, the trader predicts that no buyers will be willing to accept the latest offers as it is considered too high.
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| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 34.74 | July Settlement | -1.43 |
| NYMEX | 32.81 | July Settlement | -1.54 |
| Naphtha | 267 | CFR Japan | -2 |
| Ethylene | 718-724 | CFR NEA | 44 to 46 |
| Ethylene | 637-645 | CFR SEA | 25 |
| Propylene | 768-774 | CFR China | -24 to -26 |
| Propylene | 723-729 | FOB Korea | -24 to -26 |
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 | 7,150 | 7,116 | 7,156 |
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 | 7,600-8,000 | 7,600-7,800 |
Import PP Homo Raffia on LC at sight, CIF/CFR China main port basis
| Origin | Previous Trading Day’s Range (USD/ton) | Today’s Range (USD/ton) |
|---|
| Far East Asia | 860 | 860 |
| Middle East | 890-900 | 900 |
Tags: Asia Pacific,China,Daily,English,NEA,PP
Published on May 28, 2020 2:52 PM (GMT+8)
Last Updated on May 28, 2020 2:53 PM (GMT+8)
