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DailySSESSMENTS: China PP Price 2nd June 2020

Author: SSESSMENTS

- A trader based in China reported to SSESSMENTS.COM on the latest adjustment for local PP cargoes. From the company’s end, local offers for PP Homo Raffia cargoes surfaced with an upward adjustment of between CNY100-200/ton ($14-28/ton) as compared to a day earlier. Currently, the offers are available between CNY7,800-8,000/ton ($1,093-1,121/ton) on cash, EXW China basis and including 13% VAT. The trader further added that the increment was made following the rebound in the futures market prices.

- In the import market, a distributor of a South Korean PP producer informed SSESSMENTS.COM that the company has already sold out all allocation for June shipment offers. This week, the distributor planned to request an extra allocation from a Malaysian producer yet they were unable to obtain any as the sales in Malaysia's domestic market is quite good. At the moment, the distributor is only selling some localized PP materials directly to converters in China.

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DailySSESSMENTS: SEA PP Price 2nd June 2020

WeeklySSESSMENTS: SEA PP Prices Week Starting May 25

WeeklySSESSMENTS: China PP Prices Week Starting May 25

ProductPrice (USD)TermsChanges From Previous Trading Day (USD)
Brent38.32August Settlement0.48
NYMEX35.44July Settlement-0.05
Naphtha323CFR Japan5
Ethylene708-714CFR NEA-10
Ethylene677-685CFR SEA40
Propylene758-764CFR ChinaNo Changes
Propylene717-725FOB KoreaNo Changes

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 Raffia7,4507,3497,493

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

OriginPrevious Trading Day’s Range (CNY/ton)Today’s Range (CNY/ton)
China7,600-7,9007,800-8,000

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 East810-830810-830

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

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