- On July 30, a local trader in China is targeting higher PP prices to increase profit margin in response to the recent gains in the futures market prices, coupled with shrinking domestic inventory levels. As informed to SSESSMENTS.COM, the trader opted to raise local PP Homo Raffia offers by CNY100/ton ($14/ton) compared to last Monday’s level.
- As stated to SSESSMENTS.COM, a Dubai-based trader withheld offers to China market for this week, citing shortened business week amid Eid Al-Adha holiday in Dubai, which falls on July 30-31. The trader added that the company plans to announce fresh offers to the market after the holiday.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 43.75 | September Settlement | 0.53 |
| NYMEX | 41.27 | September Settlement | 0.23 |
| 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 | No Changes |
| Propylene | 778-784 | 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 | 7,628 | 7,624 | 7,635 |
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 | 7,900-8,000 | 7,850-8,050 |
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 | 925-960 | 925-960 |
Tags: Asia Pacific,China,Daily,English,NEA,PP
Published on July 30, 2020 2:29 PM (GMT+8)
Last Updated on July 30, 2020 9:06 PM (GMT+8)
