- A global trading house contacted by SSESSMENTS.COM informed that the latest import offers for PP Homo Raffia of Saudi origin went down by $5/ton from early August. The trader assumed that the downtrend was made due to sales pressure faced by the producer. Similarly, import offers for PP Homo Raffia from the leading Indian petrochemical producer trimmed by $5/ton from a fortnight ago. Recently, the Indian producer has been aggressively selling their cargoes to the China market due to sluggish demand in their country.
- On the supply side, market sources based in China informed SSESSMENTS.COM that the inventory level of the two leading polyolefins producers in the country dropped by 40,000 tons from a day earlier, stood at 645,000 tons as of Wednesday, July 29. The sources notified that the current inventory has reached the lowest level since Lunar New Year 2020.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 43.22 | September Settlement | -0.19 |
| NYMEX | 41.04 | September Settlement | -0.56 |
| Naphtha | 393 | CFR Japan | No Changes |
| Ethylene | 798-804 | CFR NEA | No Changes |
| Ethylene | 712-720 | CFR SEA | No Changes |
| Propylene | 818-824 | CFR China | -5 |
| Propylene | 778-784 | FOB Korea | -5 |
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 | 7,636 | 7,604 | 7,624 |
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 | 7,650-7,850 | 7,900-8,000 |
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 | 920-930 | 925-960 |
Tags: Asia Pacific,China,Daily,English,Freemium,NEA,PP
Published on July 29, 2020 2:37 PM (GMT+8)
Last Updated on October 1, 2020 2:23 PM (GMT+8)
