- A Chinese trader contacted by SSESSMENTS.COM revealed that PP Homo Raffia prices in the spot market on July 2 increased by CNY100/ton ($14/ton) as compared to a day earlier. The significant increases of PP prices in the futures market cited as the major ground behind the upward price adjustment. Besides, the relatively low inventory level at two leading Chinese polyolefins producers also acts as a supporting factor. Demand-wise, buyers remain in a cautious stance and prefer to procure on a hand-to-mouth basis. In the days to come, PP Homo Raffia prices are expected to fluctuate within a limited range.
- As of Friday, July 3, SSESSMENTS.COM noted that September 2020 polypropylene (PP) prices on the Dalian Commodity Exchange posted an increase of CNY99/ton ($14/ton) as observed at 2.30 PM (GMT+8), open at CNY7,482/ton ($1,058/ton) by morning trading session.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 43.14 | September Settlement | 1.11 |
| NYMEX | 40.65 | August Settlement | 0.83 |
| Naphtha | 385 | CFR Japan | 2 |
| Ethylene | 877-885 | CFR NEA | No Changes |
| Ethylene | 787-795 | CFR SEA | No Changes |
| Propylene | 802-810 | CFR China | No Changes |
| Propylene | 752-760 | 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 | 7,482 | 7,447 | 7,561 |
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 | 7,700-8,150 | 7,800-8,300 |
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 | 920 |
Tags: Asia Pacific,China,Daily,English,NEA,PP
Published on July 3, 2020 2:46 PM (GMT+8)
Last Updated on July 3, 2020 2:46 PM (GMT+8)
