- A trader based in Vietnam reported to SSESSMENTS.COM on receiving import offers for PP Homo Raffia cargoes from several suppliers with adjustments. From Malaysia, the offers for June shipment from a Malaysian polyolefins producer went up by $10/ton as compared to last month's level. Likewise, import offers for PP Homo Raffia of Saudi origin also increased by $20/ton on a weekly comparison. Market talks have it that another Saudi producer also adjusted their offers by the same amount but the price is still higher. Additionally, Indian PP Homo Raffia cargoes that are heard available at $850/ton on LC at sight, CIF Vietnam Main Port basis are deemed too high by buyers.
- A global trading house informed SSESSMENTS.COM on offering PP Homo Raffia cargoes of Middle East origin at $830/ton on LC at sight, CIF Indonesia Main Port basis, but obtained a cold response from buyers. There are no deals concluded so far and most buyers only expressed their buy idea at $740-745/ton on the same payment and delivery terms, which was deemed too low. Due to this, the trader decided to divert their cargoes to Vietnam and now their cargoes have been sold out to the Vietnam market. As such, the trader no longer has allocation for Middle Eastern cargoes to the Indonesia market.
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| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 29.63 | July Settlement | -1.34 |
| NYMEX | 24.14 | June Settlement | -0.6 |
| Naphtha | 240 | CFR Japan | -12 |
| Ethylene | 452-460 | CFR NEA | No Changes |
| Ethylene | 432-440 | CFR SEA | No Changes |
| Propylene | 743-749 | CFR China | 19 to 21 |
| Propylene | 698-704 | FOB Korea | 19 to 21 |
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 | 13,500,000 | 903 |
| Southeast Asia | IDR | 13,800,000* | 923 |
| Malaysia | MYR | 3,800*-3,850* | 876-888 |
| Philippines | PHP | 67,000 | 1,187 |
| Thailand | THB | 27,250-28,500 | 845-884 |
| Vietnam | VND | 21,500,000-22,500,000 | 834-873 |
Description: *Offers on 30 days credit term
Import on LC at sight, CIF Southeast Asia main port basis
| Origin | Product | Offers (USD/ton) |
|---|
| Middle East | PP Homo Raffia | 830-860 |
| Southeast Asia | PP Homo Raffia | 850-870 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on May 12, 2020 12:01 PM (GMT+8)
Last Updated on May 12, 2020 12:01 PM (GMT+8)
