- An Indonesian trader revealed to SSESSMENTS.COM that this week, the company is offering local PP Homo Raffia cargoes at IDR70,000/ton ($5/ton) lower than the leading Indonesian polyolefins producer’s price list, stand at IDR15,500,000/ton ($1,058/ton) on cash, FD Indonesia basis and excluding 10% VAT. Despite a slow market, the trader still managed to sell some volumes to customers. For import cargoes, the trader received PP Homo Raffia offers from a Vietnamese producer at $1,010/ton on LC at sight, CIF Indonesia Main Port basis. However, the trader did not take the cargoes since the offers were deemed unworkable compared to PP offers in the domestic market.
- While a Vietnamese trader informed SSESSMENTS.COM that import offers for Saudi PP Homo Raffia to the country remain stable compared to a fortnight ago. As for Thai cargoes, PP Homo Raffia offers from a Thai PP producer dropped by $45/ton on a weekly comparison and stand at $1,020/ton on LC at sight, CIF Vietnam Main Port basis. Despite the reduction, the offers are still unworkable in the market as buyers are unwilling to purchase PP Homo Raffia cargoes at above $1,000/ton-level.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 44.29 | September Settlement | -0.03 |
| NYMEX | 41.9 | September Settlement | -0.02 |
| Naphtha | 393 | CFR Japan | 1 |
| Ethylene | 798-804 | CFR NEA | No Changes |
| Ethylene | 712-720 | CFR SEA | No Changes |
| Propylene | 823-829 | CFR China | No Changes |
| Propylene | 783-789 | 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 | 14,200,000-15,200,000 | 970-1,038 |
| Southeast Asia | IDR | 14,750,000-15,700,000* | 1,007-1,072 |
| Thailand | IDR | 15,500,000* | 1,058 |
| Vietnam | IDR | 15,330,000 | 1,047 |
| Malaysia | MYR | 4,400*-4,450* | 1,034-1,046 |
| Philippines | PHP | 64,000 | 1,157 |
| Thailand | THB | 34,000*-35,000* | 1,075-1,106 |
| China | VND | 25,600,000 | 1,000 |
| Saudi Arabia | VND | 25,700,000 | 1,003 |
| South Korea | VND | 25,500,000-26,500,000 | 996-1,035 |
| Vietnam | VND | 26,000,000 | 1,015 |
Description: *Offers on 30 days credit term
Import on LC at sight, CIF/CFR Southeast Asia main port basis
| Origin | Product | Offers (USD/ton) |
|---|
| Indian Subcontinent | PP Homo Raffia | 935-950 |
| Middle East | PP Homo Raffia | 920-960 |
| Southeast Asia | PP Homo Raffia | 1,010-1,050 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on July 23, 2020 12:03 PM (GMT+8)
Last Updated on July 23, 2020 12:03 PM (GMT+8)
