- Although PP demand remains sluggish in the domestic market, a trader informed SSESSMENTS.COM that the local offers for PP Homo Raffia have increased between CNY600-700/ton ($85-99/ton) compared to Monday’s level. For import cargoes, the trader stated that PP Homo Raffia cargoes of Oman origin sold at $740/ton on LC 60 days, CIF China Main Port basis. While Indian PP Homo Raffia cargoes sold at $725/ton on LC 30 days, also on CIF main port basis. The trader stated that the allocation has been sold out since Tuesday.
- From the import market, a trader reported to SSESSMENTS.COM that the offers for Vietnamese PP Homo Raffia cargoes increased by $15/ton from Tuesday’s level. Currently, the offers are available at $825/ton on LC at sight, CIF China Main Port basis. The trader opined that it is reasonable that there are some increases in polymers prices as the crude oil price has rebounded from the bottom level last month at $19.92 per barrel, although it is still showing some decreases on a daily basis. The trader added that PP prices are firmer compared to PE, especially for PP Fiber, as this grade is used to produce masks, and at the moment, demand for the masks in both local and export markets is striking.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 31.87 | June Settlement | -1.18 |
| NYMEX | 23.63 | May Settlement | -2.45 |
| Naphtha | 187 | CFR Japan | -10 |
| Ethylene | 408-414 | CFR NEA | -40 |
| Ethylene | 378-384 | CFR SEA | -40 |
| Propylene | 598-604 | CFR China | 15 |
| Propylene | 548-554 | FOB Korea | 4 to 6 |
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 | 6,569 | 6,569 | 6,598 |
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 | 6,600-6,800 | 6,900-7,200 |
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 | 710-740 | 710-740 |
Tags: Asia Pacific,China,Daily,English,NEA,PP
Published on April 8, 2020 3:28 PM (GMT+8)
Last Updated on April 8, 2020 3:57 PM (GMT+8)
