- A Vietnamese trader reported to SSESSMENTS.COM that offers for Malaysian PP Homo Raffia cargoes increased by $20/ton on a weekly comparison following the uptrend in the import market. The trader also received offers for PP Homo Raffia cargoes from an Indian producer at $900/ton on LC at sight, CIF Vietnam Main Port basis, however, there is no price comparison available. While August shipment offers for PP Homo Raffia cargoes from the leading Indian petrochemical producer are kept stable on a weekly comparison. Particularly for Indian PP cargoes, the trader stated that there are no deals concluded yet as customers already expecting prices below $900/ton-level since last week. Moreover, the shipment delay, that is common for Indian cargoes also discouraged buyers from making purchases.
- While in Indonesia, a converter revealed to SSESSMENTS.COM that the company received offers for import Middle Eastern PP Homo Raffia cargoes from several suppliers between $930-950/ton on LC at sight, CIF Indonesia Main Port basis. The converter stated that the offers are deemed too high as deals for local PP Homo Raffia cargoes were concluded at IDR13,800,000-13,900,000/ton ($971-978/ton) on cash, FD Indonesia basis, and excluding 10% VAT. Hence, the converter decided to skip the procurement activity. While for import PP Homo Raffia cargoes of India origin, the offers for July shipment stand at $900/ton with the same payment and delivery terms, and the converter decided not to take the cargoes as well.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 39.72 | August Settlement | 0.99 |
| NYMEX | 37.12 | July Settlement | 0.86 |
| Naphtha | 347 | CFR Japan | 9 |
| Ethylene | 837-845 | CFR NEA | 34 to 36 |
| Ethylene | 787-795 | CFR SEA | 34 to 36 |
| Propylene | 763-769 | CFR China | No Changes |
| Propylene | 728-734 | 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 | 13,800,000-13,900,000 | 971-978 |
| Southeast Asia | IDR | 14,600,000*-14,650,000* | 1,028-1,031 |
| Malaysia | MYR | 4,080*-4,130* | 953-965 |
| Philippines | PHP | 60,000**-62,000** | 1,064-1,100 |
| Thailand | THB | 32,500-34,000 | 1,046-1,094 |
| Vietnam | VND | 24,500,000-26,000,000 | 956-1,014 |
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) |
|---|
| Indian Subcontinent | PP Homo Raffia | 900-930 |
| Middle East | PP Homo Raffia | 920-950 |
| Southeast Asia | PP Homo Raffia | 940 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on June 16, 2020 12:09 PM (GMT+8)
Last Updated on June 16, 2020 12:09 PM (GMT+8)
