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DailySSESSMENTS: China PP Price 22nd May 2020

Author: SSESSMENTS

- A Xiamen-based trader informed SSESSMENTS.COM that PP Homo Raffia offers from local producers moved up by CNY200/ton ($29/ton) on a weekly comparison supported by the absence of inventory pressure coupled with higher feedstock prices. Follow suit, offers for PP Homo Raffia cargoes from the trader increased by CNY150-250/ton ($21-35/ton) compared to the same period and stood at CNY7,800-8,000/ton ($1,097-1,125/ton) on cash, EXW China basis and including 13% VAT. More added, buying sentiment in the country is flat, however, the trader still managed to conclude some deals every day. The trader opined that PP prices will be stable in the near term as supported by firmer feedstock prices. 

- While for the import market, another trader commented to SSESSMENTS.COM that an Indian polyolefins producer has announced June shipment offers to China. Current offers for PP Homo Raffia stand at $855/ton on LC at sight, CIF Huangpu Port. However, the trader is not interested in taking the cargoes as citing the offer is too high.

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ProductPrice (USD)TermsChanges From Previous Trading Day (USD)
Brent36.06July Settlement0.31
NYMEX33.92June Settlement0.43
Naphtha267CFR Japan1
Ethylene612-620CFR NEANo Changes
Ethylene552-560CFR SEANo Changes
Propylene783-789CFR China15
Propylene733-739FOB Korea15

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 Raffia7,1807,1837,108

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

OriginPrevious Trading Day’s Range (CNY/ton)Today’s Range (CNY/ton)
China7,550-7,7007,800-8,000

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 East890890

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

Published on May 22, 2020 2:49 PM (GMT+8)
Last Updated on May 22, 2020 2:49 PM (GMT+8)