- An Indonesian trader contacted by SSESSMENTS.COM reported that the latest offers for local PP Homo Raffia cargoes from their end were recorded at IDR300,000/ton ($20/ton) lower than last week’s level, available at IDR15,000,000/ton ($1,025/ton) on cash, FD Indonesia basis and excluding 10% VAT. To date, the trader managed to sell some volume with deals closed at IDR100,000/ton ($7/ton) lower compared to the initial offer level, but the payment is on a 30 days credit term. Recently, the trader also received offers for local PP Homo Raffia cargoes at IDR14,000,000/ton ($956/ton)-level and is planning to take the cargoes taking into account the attractive price. Speaking of the demand, buying sentiment in the domestic market remains stagnant despite the price changes; no customers are willing to buy in bulk yet. In the days to come, the trader believes that the room for further downward adjustment in PP prices remains open considering the demand condition.
- Whereas in Vietnam, a converter informed SSESSMENTS.COM on receiving fresh offers for local PP Homo Raffia at a stable level on a weekly comparison. As noted, the offers are available at VND24,860,000/ton ($1,067/ton) on cash, FD Vietnam basis and including 10% VAT.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 43.31 | September Settlement | -0.98 |
| NYMEX | 41.07 | September Settlement | -0.83 |
| Naphtha | 392 | 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, EXW/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 | 14,000,000-15,000,000 | 956-1,024 |
| Malaysia | IDR | 14,700,000 | 1,004 |
| Southeast Asia | IDR | 14,700,000-15,700,000* | 1,004-1,072 |
| Thailand | IDR | 15,500,000* | 1,058 |
| Vietnam | IDR | 15,330,000 | 1,047 |
| Malaysia | MYR | 4,400*-4,450* | 1,033-1,045 |
| Philippines | PHP | 64,000 | 1,155 |
| Thailand | THB | 34,000*-35,000* | 1,071-1,103 |
| China | VND | 25,600,000 | 999 |
| Saudi Arabia | VND | 25,700,000 | 1,003 |
| South Korea | VND | 25,500,000-26,500,000 | 995-1,034 |
| Southeast Asia | VND | 25,200,000** | 984 |
| Vietnam | VND | 24,860,000-26,000,000 | 970-1,015 |
Description: *Offers on 30 days credit term **Offers on EXW basis
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 | 990-1,050 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on July 24, 2020 11:57 AM (GMT+8)
Last Updated on July 24, 2020 12:59 PM (GMT+8)
