- A Chinese trader reported to SSESSMENTS.COM that the trader’s offers for local PP Homo Raffia cargoes decreased between CNY100-200/ton ($14-28/ton) compared to Thursday (May 7) level following the decreases in futures prices. From the import market, offers for import PP Homo Raffia cargoes of US origin to China available at $810/ton on LC at sight, CIF China Main Port basis. However, due to the long shipment time combined with a volatile market, the trader decided to not proceed with procurement activity. While for import Middle Eastern PP Homo Raffia cargoes, the offers increased between $10-20/ton on a weekly comparison. However, the trader revealed difficulties in selling the cargoes as most buyers prefer the wait-and-see stance.
- Another trader informed SSESSMENTS.COM that the company received import PP Homo Raffia offers of US origin between $815-825/ton on LC at sight, CIF China Main Port basis. So far, there is no response yet from the customers.
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| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 29.46 | July Settlement | -0.26 |
| NYMEX | 23.55 | June Settlement | -0.44 |
| Naphtha | 241 | CFR Japan | 5 |
| Ethylene | 412-420 | CFR NEA | No Changes |
| Ethylene | 397-405 | CFR SEA | No Changes |
| Propylene | 697-705 | CFR China | No Changes |
| Propylene | 647-655 | 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 | 7,100 | 7,119 | 7,004 |
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 | 7,700-8,000 | 7,400-7,700 |
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 | 800-840 | 820-830 |
Tags: Asia Pacific,China,Daily,English,NEA,PP
Published on May 8, 2020 2:36 PM (GMT+8)
Last Updated on May 8, 2020 3:46 PM (GMT+8)
