- A Chinese trader informed SSESSMENTS.COM on the latest import PE offers of US origin to the country. This week, the trader purchased US HDPE Film and LDPE Film cargoes at $720-730/ton and $710-720/ton, respectively, on LC 90 days, CIF China Main Port basis. As reported, such levels are $10-20/ton higher than last week’s offers. In the local market, PE offers across all grades dropped by CNY100-200/ton ($14-28/ton) from Thursday’s level. As explained by the trader, China market is active on the first two trading days of May due to the increase in crude oil and futures prices. However, on Thursday afternoon, May 7, the market became quiet following the decline in PE futures prices.
- On the other side, another trader revealed to SSESSMENTS.COM that the company increased offers for South Korean HDPE Film by $20/ton compared to last week’s level following the market trend. The trader received good responses from buyers and managed to sell the cargoes at the same level to the initial offers at $760/ton on LC at sight, CIF China Main Port basis. However, coming to the end of this week, buying sentiment dampened due to the decrease in the futures prices.
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| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 29.46 | July Settlement | -0.26 |
| NYMEX | 23.55 | June Settlement | -0.44 |
| Naphtha | 241 | CFR Japan | 5 |
| Ethylene | 412-420 | CFR NEA | No Changes |
| Ethylene | 397-405 | CFR SEA | No Changes |
| Propylene | 697-705 | CFR China | No Changes |
| Propylene | 647-655 | 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 | 6,400 | 6,450 | 6,360 |
HDPE Film, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 7,500 | 7,100-7,200 |
| Central Asia | 7,200-7,300 | 7,200-7,300 |
LDPE Film, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 7,200-7,600 | 7,200-7,300 |
| Middle East | 7,350-7,450 | 7,350-7,450 |
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 | 6,650-6,700 | 6,400-6,550 |
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 | - | 760 |
| Middle East | HDPE Film | 770 | 760-770 |
| Southeast Asia | HDPE Film | 810 | 810 |
| Middle East | LDPE Film | 760 | 760 |
| Middle East | LLDPE Film C4 | 720-790 | 720-790 |
| Southeast Asia | LLDPE Film C4 | 790 | 790 |
Tags: Asia Pacific,China,Daily,English,NEA,PE
Published on May 8, 2020 2:45 PM (GMT+8)
Last Updated on May 8, 2020 2:45 PM (GMT+8)
