- A global trading house mentioned to SSESSMENTS.COM that futures prices were corrected down again. On March 27, the lowest trading price for LLDPE stood at CNY5,560/ton ($784/ton). The level is CNY330/ton ($46/ton) lower than the settlement recorded a day earlier. Therefore, spot offers in the local market remain on a downtrend. From the import market, offers for LLDPE Film C4 from the leading Indian petrochemical producer stood between $690-700/ton on LC at sight, CIF China main port basis. The trader opined that PE market will remain bearish onward.
- A Chinese trader reported to SSESSMENTS.COM that local LLDPE Film C4 offers dropped between CNY100-150/ton ($14-21/ton) compared to a day earlier. Currently, offers for the grade in the market were already below CNY6,000/ton-level. The decreases were due to the declines in futures prices. Similarly, import offers were also on a downtrend. HDPE Film and LLDPE Film C4 offers from a Saudi producer for April shipment were adjusted down by $90/ton compared to March.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 26.34 | May Settlement | -1.05 |
| NYMEX | 22.60 | May Settlement | -1.89 |
| Naphtha | 292 | CFR Japan | No Changes |
| Ethylene | 547-555 | CFR NEA | No Changes |
| Ethylene | 528-534 | CFR SEA | No Changes |
| Propylene | 693-699 | CFR China | No Changes |
| Propylene | 668-674 | FOB Korea | -5 |
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) |
|---|
| LLDPE | 5,795 | 5,890 | 5,685 |
HDPE Film, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 7,000-7,100 | 7,000-7,100 |
| Middle East | 6,700-6,800 | 6,700-6,800 |
LDPE Film, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 6,800-7,200 | 6,800-7,200 |
| Middle East | 6,900-7,200 | 6,900-7,200 |
LLDPE Film C4, on cash, EXW China basis, including 13% VAT
| Origin | Previous Trading Day’s Range (CNY/ton) | Today’s Range (CNY/ton) |
|---|
| China | 5,950-6,200 | 5,850-5,950 |
| Middle East | 6,300-6,500 | 6,300-6,500 |
Import on LC at sight, CIF China main port basis
| Origin | Product | Previous Trading Day’s Range (USD/ton) | Today’s Range (USD/ton) |
|---|
| Central Asia | HDPE Film | 760*-790* | 760*-790* |
| Middle East | HDPE Film | 770-840 | 730 |
| Southeast Asia | HDPE Film | 870 | 870 |
| Central Asia | LDPE Film | 850* | 850* |
| Middle East | LDPE Film | 860 | 860 |
| Central Asia | LLDPE Film C4 | 750 | 750 |
| Middle East | LLDPE Film C4 | 750-800 | 720 |
| Southeast Asia | LLDPE Film C4 | 770 | 770 |
Description: *Offers on TT
Tags: Asia Pacific,China,Daily,English,NEA,PE
Published on March 27, 2020 3:04 PM (GMT+8)
Last Updated on March 27, 2020 7:48 PM (GMT+8)
