- A Vietnamese converter reported that offers for local PP Homo Raffia in the country increased between VND500,000-800,000/ton ($21-34/ton) on a weekly comparison. The converter stated to SSESSMENTS.COM that the company is uninterested in making procurements as the current inventory is sufficient until next month’s production and the offers are deemed too high as well. Moreover, demand for rice packaging from the company’s end remains slow. As such, the converter is not in a rush to make purchases and prefer to wait for offers from other suppliers to get the most attractive level.
- In the Philippines, a trader informed SSESSMENTS.COM that the company’s offers for local PP Homo Raffia cargoes have been adjusted higher by PHP1,000/ton ($20/ton) from last week, currently available at PHP61,000/ton ($1,219/ton) on cash, FD Philippines basis, and including 12% VAT. In terms of demand, the trader informed that the market just reopened last week, hence, there are only a few numbers of factories are running now. However, the costumers that previously skipped procurements have started submitting orders since last week, and inquiries keep flowing in this week.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 41.18 | August Settlement | 0.38 |
| NYMEX | 38.94 | July Settlement | 0.75 |
| Naphtha | 346 | CFR Japan | No Changes |
| Ethylene | 747-755 | CFR NEA | 39 to 41 |
| Ethylene | 702-710 | CFR SEA | 25 |
| Propylene | 773-779 | CFR China | No Changes |
| Propylene | 733-739 | FOB Korea | No Changes |
PP Homo Raffia on cash/credit term, FD basis, excluding VAT (except PHP term includes 12% VAT and VND term includes 10% VAT all equivalent in USD excludes VAT)
| Origin | Currency | Offers/ton | Equivalent in USD/ton |
|---|
| Indonesia | IDR | 14,600,000 | 1,037 |
| Southeast Asia | IDR | 14,300,000*-14,600,000* | 1,016-1,037 |
| Malaysia | MYR | 4,080*-4,130* | 955-967 |
| Philippines | PHP | 61,000 | 1,088 |
| Thailand | THB | 32,500-34,000 | 1,035-1,083 |
| Vietnam | VND | 24,500,000-26,000,000 | 956-1,015 |
| Thailand | VND | 24,800,000 | 968 |
Description: *Offers on 30 days credit term
Import on LC at sight, CIF Southeast Asia main port basis
| Origin | Product | Offers (USD/ton) |
|---|
| Far East Asia | PP Homo Raffia | 930 |
| Indian Subcontinent | PP Homo Raffia | 920-930 |
| Middle East | PP Homo Raffia | 870-930 |
| Southeast Asia | PP Homo Raffia | 900-940 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on June 10, 2020 12:09 PM (GMT+8)
Last Updated on June 10, 2020 1:15 PM (GMT+8)
