- A trader based in Shanghai informed SSESSMENTS.COM that offers for import PE cargoes of Iran origin have decreased following the formula prices. Compared to last week’s level, offers for HDPE Film dipped by $40/ton and for LLDPE Film C4 dropped between $50-60/ton. While for LDPE Film, the offers are relatively stable on the back of limited supply in the market. So far, customers are still hesitant to purchase materials as PE prices continue to fall from time to time. Besides, demand for the end products remains slow.
- Whereas in the local market, another trader revealed to SSESSMENTS.COM that offers for local LLDPE Film C4 have broken below CNY6,000/ton-level. One of the PE producers in the country is offering LLDPE Film C4 at CNY5,950/ton ($838/ton) on cash, EXW China basis and including 13% VAT. As compared to Wednesday, March 25, offers across all PE grades in the spot market plunged between CNY100-150/ton ($14-21/ton) in-line with the decreases in the futures market. Further added by the trader, their company has been selling at losses for three months and it seems that PE prices still have some room to move further down.
*Offers on TT
| Product | Price (USD) | Terms | "Changes From |
|---|
| Previous Trading Day (USD)" | | | |
| Brent | 27.39 | May Settlement | 0.24 |
| NYMEX | 24.49 | May Settlement | 0.48 |
| Naphtha | 292 | CFR Japan | 5 |
| Ethylene | 547-555 | CFR NEA | No Changes |
| Ethylene | 528-534 | CFR SEA | No Changes |
| Propylene | 693-699 | CFR China | No Changes |
| Propylene | 673-679 | FOB Korea | No Changes |
Futures Price on Dalian Commodity Exchange (DCE)
| "Dalian Futures | | | |
|---|
| May 2020" | Today’s Open (CNY/ton) | Previous Trading Day’s Settlement (CNY/ton) | Today’s Settlement (CNY/ton) |
| LLDPE | 6,110 | 6,120 | 5,890 |
HDPE Film, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 7,000-7,250 | 7,000-7,100 |
| Middle East | 7,000-7,400 | 6,700-6,800 |
LDPE Film, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 7,250-8,000 | 6,800-7,200 |
| Middle East | 7,350-7,800 | 6,900-7,200 |
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 | 6,450-6,600 | 5,950-6,200 |
| Middle East | 6,600-6,950 | 6,300-6,500 |
Import on LC at sight, CIF China main port basis
| Origin | Product | Previous Trading Day’s Range (USD/ton) | Today’s Range (USD/ton) |
|---|
| Central Asia | HDPE Film | - | 760*-790* |
| Middle East | HDPE Film | 770-840 | 770-840 |
| Southeast Asia | HDPE Film | - | 870 |
| Central Asia | LDPE Film | - | 850* |
| Middle East | LDPE Film | 860 | 860 |
| Central Asia | LLDPE Film C4 | - | 750 |
| Middle East | LLDPE Film C4 | 750-800 | 750-800 |
| Southeast Asia | LLDPE Film C4 | - | 770 |
Tags: Asia Pacific,China,Daily,English,PE
Published on March 26, 2020 3:39 PM (GMT+8)
Last Updated on March 26, 2020 3:39 PM (GMT+8)
