- An Indonesian trader informed SSESSMENTS.COM that offers for local and localized Vietnamese PP Homo Raffia decreased between IDR100,000-200,000/ton ($6.3-12.7/ton) compared to last week’s level. The trader has managed to sell 400 tons of these cargoes at the same level to the initial offers at IDR13,400,000-13,500,000/ton ($852-859/ton) on cash, FD Indonesia basis and excluding 10% VAT. Demand-wise, PP Homo Raffia demand is considered healthy as some converters are starting to stock up; hence, the trader has sold out all this week allocation.
- While in Vietnam, notable upward adjustment captured for import Thai PP cargoes. A local converter in Vietnam shared with SSESSMENTS.COM on receiving PP Homo Raffia offers from a Thai producer at $50-70/ton higher compared to last week. The converter purchased a small volume at the same level to the initial offers at $800-820/ton on LC at sight, CIF Vietnam Main Port basis to maintain the long term relationship with the producer. As for Indian PP Homo Raffia cargoes, the offers stood at $800/ton on the same payment and delivery term. However, the converter did not take the cargoes as the offers deemed too high.
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| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 27.69 | June Settlement | -1.91 |
| NYMEX | 19.87 | May Settlement | -0.24 |
| Naphtha | 189 | CFR Japan | 2 |
| Ethylene | 428-434 | CFR NEA | -10 |
| Ethylene | 383-389 | CFR SEA | No Changes |
| Propylene | 688-694 | CFR China | -54 to -56 |
| Propylene | 692-700 | 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 | 13,200,000-14,200,000 | 840-903 |
| Southeast Asia | IDR | 13,400,000*-13,900,000* | 852-884 |
| Vietnam | IDR | 13,400,000-13,500,000 | 852-859 |
| Malaysia | MYR | 3,600 | 830 |
| Philippines | PHP | 67,000 | 1,179 |
| Thailand | THB | 26,000-27,500 | 795-841 |
| Vietnam | VND | 23,000,000 | 888 |
Description: *Offers on 30 days credit term
Import on LC at sight, CIF Southeast Asia main port basis
| Origin | Product | Offers (USD/ton) |
|---|
| Indian Subcontinent | PP Homo Raffia | 780-820 |
| Middle East | PP Homo Raffia | 780-790 |
| Southeast Asia | PP Homo Raffia | 800-865 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on April 16, 2020 12:53 PM (GMT+8)
Last Updated on April 16, 2020 12:53 PM (GMT+8)
