- A trader based in China reported to SSESSMENTS.COM on adjusting local PP Homo Raffia offers. In comparison to Wednesday’s level, the latest offers from the trader’s end increased by CNY100/ton ($14/ton). Even though there are no significant increases in the futures prices, the trader decided to raise their offers as the current buying sentiment in China is bullish. Overall, the sales are better compared to last week as are buyers are now more confident in making procurement. However, slight worries are looming in the market as the Corona pandemic outside China still could not be controlled yet.
- From the import market, a trader informed SSESSMENTS.COM that offers for PP Homo Raffia from a Thai PP producer to the China market went down by $40/ton on a daily comparison. Despite the reduction, some buyers are still asking at $800/ton-level or $20/ton lower than the initial offer levels.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 32.84 | June Settlement | 0.97 |
| NYMEX | 25.09 | May Settlement | 1.46 |
| Naphtha | 191 | CFR Japan | 4 |
| Ethylene | 408-414 | CFR NEA | No Changes |
| Ethylene | 378-384 | CFR SEA | No Changes |
| Propylene | 602-610 | CFR China | 4 to 6 |
| Propylene | 552-560 | FOB Korea | 4 to 6 |
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 | 6,576 | 6,598 | 6,679 |
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 | 6,900-7,200 | 7,000-7,100 |
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 | 710-740 | 710-740 |
Tags: Asia Pacific,China,Daily,English,NEA,PP
Published on April 9, 2020 3:45 PM (GMT+8)
Last Updated on April 9, 2020 3:45 PM (GMT+8)
