- A trader based in China reported to SSESSMENTS.COM on the latest adjustment for local PP cargoes. From the company’s end, local offers for PP Homo Raffia cargoes surfaced with an upward adjustment of between CNY100-200/ton ($14-28/ton) as compared to a day earlier. Currently, the offers are available between CNY7,800-8,000/ton ($1,093-1,121/ton) on cash, EXW China basis and including 13% VAT. The trader further added that the increment was made following the rebound in the futures market prices.
- In the import market, a distributor of a South Korean PP producer informed SSESSMENTS.COM that the company has already sold out all allocation for June shipment offers. This week, the distributor planned to request an extra allocation from a Malaysian producer yet they were unable to obtain any as the sales in Malaysia's domestic market is quite good. At the moment, the distributor is only selling some localized PP materials directly to converters in China.
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| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 38.32 | August Settlement | 0.48 |
| NYMEX | 35.44 | July Settlement | -0.05 |
| Naphtha | 323 | CFR Japan | 5 |
| Ethylene | 708-714 | CFR NEA | -10 |
| Ethylene | 677-685 | CFR SEA | 40 |
| Propylene | 758-764 | CFR China | No Changes |
| Propylene | 717-725 | 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 | 7,450 | 7,349 | 7,493 |
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 | 7,600-7,900 | 7,800-8,000 |
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 | 810-830 | 810-830 |
Tags: Asia Pacific,China,Daily,English,NEA,PP
Published on June 2, 2020 2:57 PM (GMT+8)
Last Updated on June 2, 2020 2:57 PM (GMT+8)
