- On Thursday, June 11, a Chinese trader adjusted down its LLDPE Film C4 further in response to a downtrend in the futures market. As compared to Wednesday’s level, the trader applied a price reduction of between CNY50-150/ton ($7-21/ton) for local LLDPE Film C4 cargoes. On the production sector, another trader revealed to SSESSMENTS.COM that local converters are currently keeping their operating rates stable at a reduced rate as end-products demand has not shown any significant improvement yet. As such, some converters prefer to purchase low-cost raw materials to minimize their production costs.
- On the supply side, market sources in China shared with SSESSMENTS.COM on the latest updates of inventory level of the two leading Chinese polyolefins producers. As of Thursday’s morning, the inventory level of polyolefins at both producers recorded at 740,000 tons, a reduction of 15,000 tons as compared to Wednesday’s level.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 41.73 | August Settlement | 0.55 |
| NYMEX | 39.60 | July Settlement | 0.66 |
| Naphtha | 351 | CFR Japan | 5 |
| Ethylene | 803-809 | CFR NEA | 54 to 56 |
| Ethylene | 753-759 | CFR SEA | 49 to 51 |
| Propylene | 773-779 | CFR China | No Changes |
| Propylene | 733-739 | 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) |
|---|
| LLDPE | 6,670 | 6,675 | 6,660 |
HDPE Film, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| Central Asia | 7,600-7,800 | 7,600-7,800 |
| China | 7,500-7,700 | 7,600-7,750 |
LDPE Film, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| Central Asia | 7,900 | 7,900 |
| China | 7,800-8,000 | 7,800-8,000 |
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 | 6,750-7,000 | 6,700-7,000 |
| Middle East | 7,100 | 7,100 |
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 | 820-860 | 840-860 |
| Southeast Asia | HDPE Film | 895 | 900 |
| Middle East | LDPE Film | 850-910 | 870-910 |
| Middle East | LLDPE Film C4 | 750-810 | 810-820 |
| Southeast Asia | LLDPE Film C4 | 855 | 860 |
Tags: Asia Pacific,China,Daily,English,NEA,PE
Published on June 11, 2020 3:42 PM (GMT+8)
Last Updated on June 11, 2020 3:53 PM (GMT+8)
