- A South Korean producer reported to SSESSMENTS.COM that the company trimmed PP Homo Raffia offers to China market by $60/ton compared to the offer available last week. Despite the adjustment, there is no deal concluded yet. The producer added that the competition is fierce as lower and lower offers continue to emerge in the market. Meanwhile, the demand remains sluggish as Coronavirus concern persists and continue to affect the market sentiment.
- A trader commented to SSESSMENTS.COM that the company applied different adjustments for local PP Homo Raffia offers. In general, the offers for local PP Homo Raffia cargoes decreased by CNY200/ton ($28/ton) from Wednesday’s level. While for PP Homo Raffia grade Z30S, the offers were adjusted up by CNY100/ton ($14/ton) as compared to the same period.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 24.74 | June Settlement | -1.61 |
| NYMEX | 20.31 | May Settlement | -0.17 |
| Naphtha | 166 | CFR Japan | -25 |
| Ethylene | 478-484 | CFR NEA | -29 to -31 |
| Ethylene | 448-454 | CFR SEA | -30 |
| Propylene | 593-599 | CFR China | -14 to -16 |
| Propylene | 573-579 | FOB Korea | -14 to -16 |
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) |
|---|
| PP Raffia | 5,808 | 5,911* | 6,006 |
Description: *Previous trading day’s settlement was for May 2020 contract
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 | 6,100-6,300 | 6,100-6,300 |
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) |
|---|
| Middle East | 700-740 | 700-740 |
