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DailySSESSMENTS: China PP Price 20th May 2020

Author: SSESSMENTS

- A Chinese trader contacted by SSESSMENTS.COM commented regarding the explosion at LG Chem, one of the top PP suppliers to China. The source mentioned that the accident at the producer’s plant located in Daesan only affects supply for metallocene PP. As such, spot PP Homo Raffia prices would not be affected. However, it might affect PP prices in the futures market. 

- A Chinese coal-based PP Homo Raffia producer informed SSESSMENTS.COM that the offers from the producer have increased by CNY150/ton ($21/ton) compared to a day earlier. The source has some confidence to adjust up the offers as supported by the increases of PP prices in the futures market and the absence of inventory pressure. Looking ahead, the producer opined that PP prices would remain stable until the end of May. While in June and July, PP prices have a big room to decrease. First, June to July is the traditional low season for PP, and at the same time, imported materials from the US and India will arrive at China ports. Second, the tension between China and the US will add many uncertainties in the market. 

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DailySSESSMENTS: SEA PP Price 19th May 2020

DailySSESSMENTS: China PP Price 19th May 2020

DailySSESSMENTS: SEA PP Price 20th May 2020

WeeklySSESSMENTS: SEA PP Prices Week Starting May 11

WeeklySSESSMENTS: China PP Prices Week Starting May 11

ProductPrice (USD)TermsChanges From Previous Trading Day (USD)
Brent34.65July Settlement-0.16
NYMEX32.5June Settlement0.68
Naphtha259CFR Japan-1
Ethylene603-609CFR NEA4 to 6
Ethylene538-544CFR SEA4 to 6
Propylene768-774CFR China15
Propylene718-724FOB Korea10

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 Raffia6,9787,0167,056

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

OriginPrevious Trading Day’s Range (CNY/ton)Today’s Range (CNY/ton)
China7,500-7,8007,550-7,700

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 East860860

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

Published on May 20, 2020 3:17 PM (GMT+8)
Last Updated on May 20, 2020 3:17 PM (GMT+8)