- A trader in Vietnam informed SSESSMENTS.COM that a local PP producer does not have any offers this week as the producer is fulfilling last week’s orders. From the trader’s end, offers for localized PP Homo Raffia from Saudi were at VND500,000/ton ($21/ton) higher than last week, now at VND25,500,000/ton ($1,091/ton) on cash, FD Vietnam basis and including 10% VAT. The adjustments were made following higher import offers and firmer feedstock prices. According to the trader, buyers perceived the offers as unreasonable.
- For import offers, a Vietnamese converter reported to SSESSMENTS.COM on receiving offers for PP Homo Raffia from a Thai producer at $1,000/ton on LC at sight, CIF Vietnam main port basis. As stated by the converter, the producer seems unwilling to sell due to difficulties in clearing backlogs from the previous sales, hence, keep quoting the ridiculous level. The trader also received offers for the same product from Middle Eastern suppliers at $920/ton with the same payment and delivery terms. Since import offers are considered as unattractive, the trader skipped procurements this week.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 38.55 | August Settlement | -3.18 |
| NYMEX | 36.34 | July Settlement | -3.26 |
| Naphtha | 338 | CFR Japan | -13 |
| Ethylene | 803-809 | CFR NEA | No Changes |
| Ethylene | 753-759 | CFR SEA | No Changes |
| 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 | 13,900,000-14,800,000 | 978-1,042 |
| Malaysia | IDR | 13,800,000 | 971 |
| Southeast Asia | IDR | 14,300,000*-14,600,000* | 1,006-1,028 |
| Malaysia | MYR | 4,080*-4,130* | 958-970 |
| Philippines | PHP | 60,000**-62,000** | 1,067-1,102 |
| Thailand | THB | 32,500-34,000 | 1,047-1,096 |
| Vietnam | VND | 24,500,000-26,000,000 | 953-1,012 |
| Thailand | VND | 24,800,000 | 965 |
| Saudi | VND | 25,500,000 | 992 |
Description: *Offers on 30 days credit term **Offers on 60 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 | 900-950 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on June 12, 2020 11:26 AM (GMT+8)
Last Updated on June 12, 2020 11:26 AM (GMT+8)
