- An Indonesian converter revealed that price quotation for localized Southeast Asian PP Homo Raffia cargoes via a trader decreased by IDR150,000/ton ($10/ton) from last week, available at IDR14,750,000/ton ($993/ton) on cash, FD Indonesia basis, and excluding 10% VAT. However, the converter stated to SSESSMENTS.COM that the trader does not have ready materials at the moment. Demand-wise, sales for finished product for essential food packaging are healthy while for other food packaging remain lukewarm. For the outlook, local PP prices are expected to move lower in the near term.
- A global trading house reported to SSESSMENTS.COM that last week, the trader was offering import Saudi PP Homo Raffia to Vietnam market at $990/ton on LC at sight, CIF Vietnam Main Port basis. However, the buyers were giving the cold shoulder as most of them already had sufficient inventory on hand. As such, most buyers prefer to only monitor the market movement with no intention to make purchases. The trader commented that Vietnam market would turn to be quiet if prices continue to increase this week.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 43.28 | September Settlement | 0.14 |
| NYMEX | 40.81 | August Settlement | 0.22 |
| Naphtha | 387 | CFR Japan | 3 |
| Ethylene | 798-804 | CFR NEA | No Changes |
| Ethylene | 712-720 | CFR SEA | No Changes |
| Propylene | 823-829 | CFR China | 5 |
| Propylene | 783-789 | FOB Korea | 5 |
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 | 15,200,000*-15,900,000 | 1,023-1,070 |
| Southeast Asia | IDR | 14,750,000-15,700,000* | 993-1,057 |
| Vietnam | IDR | 15,330,000 | 1,032 |
| Malaysia | MYR | 4,400*-4,450* | 1,031-1,043 |
| Philippines | PHP | 64,000 | 1,157 |
| Thailand | THB | 34,000-36,000 | 1,068-1,131 |
| Vietnam | VND | 24,500,000-25,800,000 | 996-1,008 |
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 | 950-960 |
| Southeast Asia | PP Homo Raffia | 1,020 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on July 21, 2020 12:09 PM (GMT+8)
Last Updated on July 21, 2020 12:09 PM (GMT+8)
