- A trader informed to SSESSMENTS.COM that import PP Homo Raffia prices of Vietnam origin to Indonesia for the week commencing July 13 captured stable to firmer by $10/ton from last week’s level. The increases on the formula prices noted as the major ground of the upward adjustment. In terms of demand, buyers were showing limited interest in import Vietnamese cargoes since last week. Buyers prefer to source locally on the back of competitive offers. Added to that, the demand for PP resins in Indonesia remains dull due to the slow sales for the end-products. Converters are keeping procurement on a hand-to-mouth basis as they are cautious about their spending. The dull demand is expected to last until the end of July. More added, the celebration of Eid Al-Adha predicted to give a limited impact on the PP market.
- Whereas in Vietnam, a trader reported to SSESSMENTS.COM that the company adjusted up the offers for localized PP Homo Raffia of Saudi origin. As compared to last week’s level, the offers surfaced with increases of VND600,000/ton ($26/ton). Further added, the upward price adjustment was made in-line with the firm import PP prices. The trader stated that as long as import PP prices remain on the uptrend, there are no reasons to adjust down the offers.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 42.9 | September Settlement | 0.18 |
| NYMEX | 40.29 | August Settlement | 0.19 |
| Naphtha | 386 | CFR Japan | -1 |
| Ethylene | 798-804 | CFR NEA | No Changes |
| Ethylene | 702-710 | CFR SEA | No Changes |
| Propylene | 822-830 | CFR China | No Changes |
| Propylene | 778-784 | FOB Korea | 4 to 6 |
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 | 1,016-1,071 |
| Southeast Asia | IDR | 14,900,000*-15,800,000 | 1,023-1,085 |
| Malaysia | MYR | 4,400*-4,450* | 1,030-1,042 |
| Philippines | PHP | 64,000 | 1,154 |
| Thailand | THB | 35,000-36,000 | 1,109-1,140 |
| Vietnam | VND | 24,500,000-25,800,000 | 956-1,006 |
| Saudi | VND | 26,000,000-27,500,000 | 1,014-1,073 |
| South Korea | VND | 26,000,000 | 1,014 |
Description: *Offers on 30 days credit term
Import on LC at sight, CIF/CFR Southeast Asia main port basis
| Origin | Product | Offers (USD/ton) |
|---|
| Far East Asia | PP Homo Raffia | 950-970 |
| Indian Subcontinent | PP Homo Raffia | 940-970 |
| Middle East | PP Homo Raffia | 920-960 |
| Southeast Asia | PP Homo Raffia | 990-1,030 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on July 15, 2020 12:06 PM (GMT+8)
Last Updated on July 15, 2020 12:06 PM (GMT+8)
