- A South Korean PP producer informed SSESSMENTS.COM that the company has released April shipment offers to China market. In comparison to March shipment’s level, the offers for PP Homo Raffia recorded a decrease of $30/ton, currently at $920/ton on LC at sight, CIF China Main Port basis. To date, the producer is still waiting for more customers’ response, yet some already showed resistance towards the offers.
- In the local market, a trader reported to SSESSMENTS.COM that offers for local PP Homo Raffia cargoes in the spot market were adjusted down between $50-100/ton ($7-14/ton) compared to Wednesday’s level. The price reduction was made following the softer PP prices in the futures market. Currently, the market situation for PP remains bearish. Most buyers are still procuring on an as-needed basis, while some others are losing confidence.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 27.39 | May Settlement | 0.24 |
| NYMEX | 24.49 | May Settlement | 0.48 |
| Naphtha | 292 | CFR Japan | 5 |
| Ethylene | 547-555 | CFR NEA | No Changes |
| Ethylene | 528-534 | CFR SEA | No Changes |
| Propylene | 693-699 | CFR China | No Changes |
| Propylene | 673-679 | FOB Korea | No Changes |
Futures Price on Dalian Commodity Exchange (DCE)
| Dalian Futures May 2020 | Today’s Open (CNY/ton) | Previous Trading Day’s Settlement (CNY/ton) | Today’s Settlement (CNY/ton) |
|---|
| PP Raffia | 6,345 | 6,372 | 6,227 |
PP Homo Raffia, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 6,550-6,900 | 6,400-6,800 |
Import PP Homo Raffia on LC at sight, CIF China main port basis
| Origin | Previous Trading Day’s Range (USD/ton) | Today’s Range (USD/ton) |
|---|
| Far East Asia | - | 920 |
| Middle East | 840-880 | 840-880 |
Tags: Asia Pacific,China,Daily,English,NEA,PP
Published on March 26, 2020 3:21 PM (GMT+8)
Last Updated on March 26, 2020 3:21 PM (GMT+8)
