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DailySSESSMENTS: China PP Price 15th June 2020

Author: SSESSMENTS

- A polyolefins producer in China revealed to SSESSMENTS.COM that the company made adjustments on PP Homo Raffia offers this week. As compared to last week, offers from the producer for the product increased by CNY50/ton ($7/ton). Hence, the current offers stand between CNY8,050-8,100/ton ($1,136-1,143/ton) on cash, EXW East and South China basis and including 13% VAT. 

- Pertaining to PP demand, a trader in China commented to SSESSMENTS.COM that buyers are cautious in making purchases nearing the traditional low season. The trader added that the outlook for PP prices in China in the second half of 2020 is not positive considering the new capacity. The trader mentioned that Liaoning Baolai will conduct a trial run at the company’s two PP lines with a total capacity of 600,000 tons/year on July 20. Zhongke Petrochemical also plans to bring its two PP lines with a total capacity of 550,000 tons/year on stream in July.

ProductPrice (USD)TermsChanges From Previous Trading Day (USD)
Brent38.73August Settlement0.18
NYMEX36.26July Settlement-0.08
Naphtha338CFR JapanNo Changes
Ethylene803-809CFR NEANo Changes
Ethylene753-759CFR SEANo Changes
Propylene763-769CFR China-10
Propylene728-734FOB Korea-5

Futures Price on Dalian Commodity Exchange (DCE)

Dalian Futures September 2020Today’s Open (CNY/ton)Previous Trading Day’s Settlement (CNY/ton)Today’s Settlement (CNY/ton)
PP Raffia7,3377,2737,336

PP Homo Raffia, on cash, EXW China basis, including 13% VAT

OriginPrevious Trading Day’s Range (CNY/ton)Today’s Range (CNY/ton)
China7,750-7,8507,850-8,100

Import PP Homo Raffia on LC at sight, CIF China main port basis

OriginPrevious Trading Day’s Range (USD/ton)Today’s Range (USD/ton)
Middle East900870-900

Tags: Asia Pacific,China,Daily,English,NEA,PP

Published on June 15, 2020 2:57 PM (GMT+8)
Last Updated on June 15, 2020 2:57 PM (GMT+8)