Transactions for local PE, PP on cash, EXW China basis (including 13% VAT in CNY term, equivalent in USD excluding VAT)
A Chinese coal-based PE and PP producer informed SSESSMENTS.COM regarding the latest offers from the producer’s end. As of May 20, the producer decided to increase the offers for PP Homo Fiber and coal-based PP Homo Raffia by CNY150/ton ($21/ton) as compared to offer given a day earlier. While for coal-based LDPE Film, LLDPE Film C4, and HDPE Injection, the offers were adjusted up by CNY50/ton ($7/ton) as compared to the same period. More added by the producer, aside from the increases in the futures market, the absence of the inventory pressure on their end is also one of the major factors supporting the upward price adjustment.
In the days to come, the producer opined that local PE and PP prices would remain stable until the end of May. However, coming to June and July, prices might be on a downtrend on the back of several factors. June and July is the traditional low season for polyolefins products in China. During the same time, imported materials of India and the U.S origin will arrive at China ports, adding another pressure on prices. Additionally, the tension between China and the U.S will cast many uncertainties in the market, SSESSMENTS.COM was told.
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Tags: Asia Pacific,China,English,NEA,News,PE,PP
Published on May 20, 2020 6:13 PM (GMT+8)Last Updated on May 20, 2020 6:13 PM (GMT+8)
