- A trader based in Myanmar informed SSESSMENTS.COM that the overall situation in the domestic market is muted this week due to Coronavirus outbreak and Myanmar New Year celebration, which will officially start from Friday, April 17. Although the celebration begins later this week, market players decided to leave their desk as early as Monday, April 13. At the moment, no official lockdown in the country but the government has imposed social restriction. Hence, people are unable to celebrate the New Year event and could only stay at home.
- In Malaysia, a converter reported to SSESSMENTS.COM on receiving offers for PP Homo Raffia from a local producer between $800-810/ton excluding delivery cost. However, the producer is willing to sell at $815/ton on cash, FD Malaysia basis and excluding 6% SST. While for import cargoes, the converter also received offers for PP Homo Raffia of Vietnam origin at $800/ton on LC at sight, CIF Malaysia Main Port basis. The converter decided to take local cargoes as the prices are deemed more competitive than import. On the production sector, the converter is currently running at 50% of the normal production rates.
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| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 27.82 | June Settlement | 0.13 |
| NYMEX | 19.87 | May Settlement | No Changes |
| Naphtha | 193 | CFR Japan | 4 |
| Ethylene | 397-405 | CFR NEA | -29 to -31 |
| Ethylene | 347-355 | CFR SEA | -34 to -36 |
| Propylene | 677-685 | CFR China | -9 to -11 |
| Propylene | 627-635 | FOB Korea | -65 |
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 | 839-903 |
| 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 | 824 |
| Malaysia | USD | 815 | - |
| Philippines | PHP | 67,000 | 1,174 |
| Thailand | THB | 26,000-28,000 | 794-855 |
| Vietnam | VND | 23,000,000 | 886 |
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 17, 2020 1:23 PM (GMT+8)
Last Updated on April 17, 2020 1:23 PM (GMT+8)
