- A Thai trader reported to SSESSMENTS.COM that the offers for PP Homo Raffia from the local producers have been adjusted higher by THB1,000/ton ($31/ton) from last week. Despite the upward adjustment, finished product sales from the converters’ end remain slow. Hence, buyers are unwilling to place orders and prefer to wait until the offers to be adjusted down in the upcoming weeks. To the export market, the offers for PP Homo Raffia from one of the Thai producers also increased by $30/ton from last week, available at $915/ton on LC at sight, CIF Vietnam Main Port basis. However, the trader opined that customers will be most likely unwilling to take the cargoes at such a level.
- Meanwhile, a Vietnamese trader informed that import offers for Saudi PP Homo Raffia to Vietnam market captured lower by $10/ton from a week earlier. However, SSESSMENTS.COM was told that customers are unwilling to make purchases and prefer to delay the procurement activity as the offers are expected to move even lower in the days to come.
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| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 34.65 | July Settlement | -0.16 |
| NYMEX | 32.50 | June Settlement | 0.68 |
| Naphtha | 259 | CFR Japan | -1 |
| Ethylene | 603-609 | CFR NEA | 4 to 6 |
| Ethylene | 538-544 | CFR SEA | 4 to 6 |
| Propylene | 768-774 | CFR China | 15 |
| Propylene | 718-724 | FOB Korea | 10 |
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 | 13,890,000*-14,000,000 | 939-946 |
| Malaysia | MYR | 3,800*-3,850* | 873-885 |
| Philippines | PHP | 67,000 | 1,178 |
| Thailand | THB | 29,500 | 923 |
| Vietnam | VND | 22,000,000-23,500,000 | 854-913 |
| Thailand | VND | 23,800,000 | 924 |
Description: *Offers on 30 days credit term
Import on LC at sight, CIF Southeast Asia main port basis
| Origin | Product | Offers (USD/ton) |
|---|
| Far East Asia | PP Homo Raffia | 850 |
| Indian Subcontinent | PP Homo Raffia | 800-820 |
| Middle East | PP Homo Raffia | 780-840 |
| Southeast Asia | PP Homo Raffia | 900-915 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on May 20, 2020 12:04 PM (GMT+8)
Last Updated on May 20, 2020 12:34 PM (GMT+8)
