- A global trading house revealed to SSESSMENTS.COM that Indonesia PP market has not shown any signs of recovery despite relaxation of large-scale social restrictions rules (PSBB) in some cities. Domestic demand has yet to pick up as most converters have faced a significant reduction in end-products demand amid the pandemic crisis. Further added, a large number of converters already secured sufficient volume for June and July production. In terms of prices, the trader is offering Saudi PP Homo Raffia cargoes to Indonesia market at $840/ton on LC at sight, CIF Main Port basis. However, the latest offer level gained cold responses from customers as most are reluctant to accept such a level. For local offers, another trader initiated a price increase of IDR500,000/ton ($34/ton) for local PP Homo Raffia cargoes as compared to last week's level. The trader managed to secure a deal at IDR13,800,000/ton ($930/ton) on cash, FD Indonesia basis and excluding 10% VAT, or IDR200,000/ton ($13/ton) lower than the initial offer level.
- Whereas in Vietnam, a global trading house informed SSESSMENTS.COM on the latest import PP Homo Raffia offers to the country. This week, the trader has no allocation for Saudi origin cargoes as the company managed to sell all of the allocations in the previous week. Transactions were successfully concluded at the initial offer level at $840/ton on LC at sight, CIF Vietnam Main Port basis.
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DailySSESSMENTS: SEA PP Price 18th May 2020
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DailySSESSMENTS: China PP Price 19th May 2020
WeeklySSESSMENTS: SEA PP Prices Week Starting May 11
WeeklySSESSMENTS: China PP Prices Week Starting May 11
Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
Brent | 34.81 | July Settlement | 2.31 |
NYMEX | 31.82 | June Settlement | 2.39 |
Naphtha | 260 | CFR Japan | 11 |
Ethylene | 597-605 | CFR NEA | 20 |
Ethylene | 532-540 | CFR SEA | 29 to 31 |
Propylene | 753-759 | CFR China | No Changes |
Propylene | 708-714 | 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 | 14,000,000 | 943 |
Malaysia | MYR | 3,800*-3,850* | 871-882 |
Philippines | PHP | 67,000 | 1,176 |
Thailand | THB | 28,000-28,500 | 873-889 |
Vietnam | VND | 23,100,000-23,500,000 | 897-913 |
Description: *Offers on 30 days credit term
Import on LC at sight, CIF Southeast Asia main port basis
Origin | Product | Offers (USD/ton) |
Middle East | PP Homo Raffia | 830-840 |
Southeast Asia | PP Homo Raffia | 850-885 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on May 19, 2020 12:22 PM (GMT+8)
Last Updated on May 19, 2020 12:22 PM (GMT+8)