DailySSESSMENTS: SEA PP Price 14th July 2020

Author: SSESSMENTS

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- A Philippines polyolefins producer contacted by SSESSMENTS.COM’s team informed on maintaining stable offers for local PP Homo Raffia from last week’s level. Currently, the offers are available at PHP64,000/ton ($1,293/ton) on cash, FD Philippines basis and including 12% VAT.

- Whereas in Indonesia, a converter reported to SSESSMENTS.COM that offers for import PP Homo Raffia of Saudi origin remained stable from last week’s level, available at $960/ton on LC at sight, CIF Indonesia Main Port basis. However, the converter has no intention in placing bids since the offers are deemed unworkable. Likewise, the trader is also objecting toward import PP Homo Raffia cargoes of Vietnam origin that offered at $990-1,000/ton on the same payment and delivery terms. The converter once asked the supplier for the best prices yet they are only willing to sell at $990/ton-level at the lowest. In the local market, the converter has yet to receive any fresh offers for PP Homo Raffia from the largest local trading house in the country this week, citing that the trader currently has limited stocks at their end.

Product	Price (USD)	Terms	Changes From Previous Trading Day (USD)
Brent	42.72	September Settlement	-0.52
NYMEX	40.1	August Settlement	-0.45
Naphtha	387	CFR Japan	-8
Ethylene	798-804	CFR NEA	No Changes
Ethylene	702-710	CFR SEA	-44 to -46
Propylene	822-830	CFR China	10
Propylene	772-780	FOB Korea	10

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	14,800,000*-15,600,000	1,022-1,077
Southeast Asia	IDR	14,900,000*-15,800,000	1,029-1,091
Malaysia	MYR	4,400-4,450	1,031-1,043
Philippines	PHP	64,000	1,154
Thailand	THB	34,000-36,000	1,083-1,146
Vietnam	VND	24,200,000-25,500,000	946-997