- The largest local trading house in Indonesia contacted by SSESSMENTS.COM stated that this week, the company maintains a stable offer level for local and localized Southeast Asian PP Homo Raffia cargoes. Currently, the trader’s offers for both local and localized cargoes are available at IDR14,500,000/ton ($1,041/ton) on cash, FD Indonesia basis and excluding 10% VAT. Buyers’ response towards the offers is rather cold and the number of deals remains limited, citing that the offer level is deemed too high. However, the trader has no intention in revising down the offers since the company does not have sales pressure at the moment. In the days to come, the trader believes that local PP offers will remain firm.
- Whereas in Vietnam, a trader reported to SSESSMENTS.COM that the latest offers for localized PP Homo Raffia cargoes of Saudi origin increased by VND500,000/ton ($21/ton) from last week, currently stand at VND26,000,000/ton ($1,112/ton) on cash, FD Vietnam basis and including 10% VAT. Previously, the trader intended to raise the offers to VND26,500,000/ton ($1,133/ton)-level following the international price trend. However, the intention is buried considering the cold response from buyers towards high prices and once the trader notices that other traders are offering at lower levels. From a local producer, the trader also received offers for PP Homo Raffia at VND24,800,000/ton ($1,060/ton), or about VND1,700,000/ton ($73/ton) higher than the offers available a fortnight ago. Demand-wise, buying sentiment this week is still considered weak as most buyers keep procuring on a hand-to-mouth basis.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 40.71 | August Settlement | -0.25 |
| NYMEX | 37.96 | July Settlement | -0.42 |
| Naphtha | 352 | CFR Japan | -1 |
| Ethylene | 837-845 | CFR NEA | No Changes |
| Ethylene | 787-795 | CFR SEA | No Changes |
| Propylene | 772-780 | CFR China | 4 to 6 |
| 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 | 14,500,000-15,000,000 | 1,020-1,055 |
| Southeast Asia | IDR | 13,800,000-14,800,000 | 1971-1,041 |
| Malaysia | MYR | 4,080*-4,130* | 953-965 |
| Philippines | PHP | 60,000**-62,000** | 1,068-1,103 |
| Thailand | THB | 33,500-34,500 | 1,076-1,108 |
| Vietnam | VND | 24,600,000-26,400,000 | 956-1,026 |
| Saudi | VND | 26,000,000 | 1,010 |
| South Korea | VND | 25,000,000 | 972 |
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 | 920-940 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on June 18, 2020 12:08 PM (GMT+8)
Last Updated on June 18, 2020 12:08 PM (GMT+8)
