- A Chinese trader informed SSESSMENTS.COM that the company’s offers for local HDPE Film, LDPE Film, and LLDPE Film C4 have been adjusted up again today. In comparison to Thursday's level, the offers raised as much as CNY100/ton ($14/ton). The trader mentioned that there are some stimulus that could support the sustainability of prices in the local market. One of them is crude oil prices that are expected to rebound in the near future as Saudi Arabia and Russia have released their will to reach an agreement to jointly cut about 10 million barrels of oil production.
- Similarly, SSESSMENTS.COM was told that the local offers for HDPE Film, LDPE Film, and LLDPE Film C4 from another trader were adjusted higher by CNY500/ton ($71/ton) as compared to Wednesday’s level. On the supply side, the inventory level of the two leading Chinese polyolefins producers as of Friday, April 10, recorded at 945,000 tons. Compared to Thursday, it showed a reduction of 40,000 tons while compared to Tuesday’s level after the Qingming Festival, a reduction is 170,000 tons.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 31.48 | June Settlement | -1.36 |
| NYMEX | 22.76 | May Settlement | -2.33 |
| Naphtha | 191 | CFR Japan | No Changes |
| Ethylene | 408-414 | CFR NEA | No Changes |
| Ethylene | 353-359 | CFR SEA | -25 |
| Propylene | 613-619 | CFR China | 9 to 11 |
| Propylene | 563-569 | FOB Korea | 9 to 11 |
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) |
|---|
| LLDPE | 5,900 | 6,000 | 6,130 |
HDPE Film, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 6,800-7,000 | 7,400-7,600 |
| Middle East | - | 7,400-7,500 |
| Southeast Asia | 7,350 | 7,350 |
LDPE Film, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 7,000-7,400 | 7,500-7,800 |
| Middle East | 7,500 | 7,500-7,600 |
LLDPE Film C4, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 6,450-6,550 | 6,500-6,650 |
| Middle East | 6,500-6,550 | 6,500-6,650 |
Import on LC at sight, CIF China main port basis
| Origin | Product | Previous Trading Day’s Range (USD/ton) | Today’s Range (USD/ton) |
|---|
| Middle East | HDPE Film | 700-730 | 700-730 |
| Southeast Asia | HDPE Film | 800-825 | 800-825 |
| Middle East | LDPE Film | 780-820 | 780-820 |
| Middle East | LLDPE Film C4 | 670-750 | 670-750 |
| Southeast Asia | LLDPE Film C4 | 770-780 | 760-770 |
Tags: Asia Pacific,China,Daily,English,NEA,PE
Published on April 10, 2020 3:12 PM (GMT+8)
Last Updated on April 10, 2020 3:12 PM (GMT+8)
