- As stated to SSESSMENTS.COM, a Middle Eastern producer has announced May shipment offers to the China market this week. As compared to April shipment, the producer initiated a price reduction of $10/ton on HDPE Film and $30/ton on LLDPE Film C4. The latest offers for both grades available at $760/ton and $720/ton respectively, on LC at sight, CIF China Main Port basis, and gain positive responses from the customers so far. The producer noticed that currently, most foreign suppliers are attempting to move the cargoes to China since the market activity is back to normal in many parts of the country as disruptions from the virus outbreak subside. Further added, most customers in China are more willing to make purchases in big quantity this week ahead of the Labour Day holiday.
- On the supply side, market sources in China shared with SSESSMENTS.COM on the latest updates of the inventory level of the two leading polyolefins producers in the country. As of Thursday, April 30, the inventory level of polyolefins at both producers recorded at 795,000 tons, an increase of 20,000 tons as compared to Wednesday’s level.
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| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 22.54 | June Settlement | 2.08 |
| NYMEX | 15.06 | June Settlement | 2.72 |
| Naphtha | 194 | CFR Japan | 2 |
| Ethylene | 373-379 | CFR NEA | 9 to 11 |
| Ethylene | 353-359 | CFR SEA | 25 |
| Propylene | 682-690 | CFR China | No Changes |
| Propylene | 632-640 | 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 | 6,150 | 6,110 | 6,110 |
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 | 6,800-7,100 | 6,800-7,100 |
| China | 7,150-7,250 | 7,150-7,250 |
LDPE Film, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 7,100-7,300 | 7,100-7,300 |
| Middle East | 7,400 | 7,400 |
LLDPE Film C4, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| Central Asia | 6,400 | 6,400 |
| China | 6,450-6,550 | 6,450-6,550 |
Import on LC at sight, CIF China main port basis
| Origin | Product | Previous Trading Day’s Range (USD/ton) | Today’s Range (USD/ton) |
|---|
| Far East Asia | HDPE Film | 740-750 | 740-750 |
| Middle East | HDPE Film | 700-740 | 730-750 |
| Southeast Asia | HDPE Film | 800 | 800 |
| Middle East | LDPE Film | 760 | 760 |
| Middle East | LLDPE Film C4 | 720-790 | 720-790 |
| Southeast Asia | LLDPE Film C4 | 770 | 770 |
Tags: Asia Pacific,China,Daily,English,NEA,PE
Published on April 30, 2020 2:54 PM (GMT+8)
Last Updated on May 7, 2020 10:29 AM (GMT+8)
