- A trader in Vietnam contacted by SSESSMENTS.COM revealed that local PP Homo Raffia cargoes from one of the PP producers in the country are available at VND26,000,000/ton ($1,114/ton). While localized South Korean PP Homo Raffia is being offered at VND25,000,000/ton ($1,071/ton), all on cash, FD Haiphong basis and including 10% VAT. The offers for local materials deemed too high by the trader as the current level is higher by VND500,000/ton ($21/ton) as compared to the offers from traders’ end a week ago. Considering the high prices for local materials, buyers were showing good responses as they are concerned that the producer would increase the price further. In the days to come, the source opined that local and import PP Homo Raffia prices would remain firm.
- Whereas in Indonesia, a trader revealed to SSESSMENTS.COM that the company has adjusted up the offers for local PP Homo Raffia cargoes by IDR200,000/ton ($14/ton) as compared to last week’s level on the back of limited supply on their end. At the moment, the offers stand at IDR15,000,000/ton ($1,059/ton) on cash, FD Indonesia basis and excluding 10% VAT. Deals were concluded at IDR14,800,000/ton ($1,045/ton) with the same payment and delivery term to regular customers. Further added, the trader stated that it is hard to predict market direction. Demand for PP Homo Raffia is not viable; buyers are more comfortable to procure on a hand-to-mouth basis. Buyers are not worried about the tight supply in the market and requested the delivery of materials carried out in the fourth week of June. As such, the trader has no plan to replenish the inventory, unless buyers submit more orders.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 40.96 | August Settlement | 1.24 |
| NYMEX | 38.38 | July Settlement | 1.26 |
| Naphtha | 353 | CFR Japan | 6 |
| Ethylene | 837-845 | CFR NEA | No Changes |
| Ethylene | 787-795 | CFR SEA | No Changes |
| Propylene | 768-774 | CFR China | 5 |
| 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 | 14,600,000*-15,000,000 | 1,031-1,059 |
| Southeast Asia | IDR | 14,600,000*-14,800,000 | 1,031-1,045 |
| Malaysia | MYR | 4,080*-4,130* | 954-966 |
| Philippines | PHP | 60,000**-62,000** | 1,068-1,103 |
| Thailand | THB | 33,500-34,500 | 1,076-1,108 |
| Vietnam | VND | 25,080,000-26,000,000 | 977-1,012 |
| South Korea | VND | 25,000,000 | 973 |
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 17, 2020 11:43 AM (GMT+8)
Last Updated on June 17, 2020 11:43 AM (GMT+8)
