- A Thai trader reported to SSESSMENTS.COM that a local producer significantly adjusted PP offers. Compared to last week, the producer’s offers for Film grades were adjusted up by THB2,000/ton ($64/ton) while for non Film grades by THB1,500/ton ($48/ton). Currently, the producer’s offers for PP Homo Raffia stand at THB35,500/ton ($1,145/ton) on cash, FD Thailand basis and excluding 7% VAT. Demand for PP in Thailand is slow, hence, the trader opined that there would be limited transactions recorded this week. As for offers to the export market, PP Homo Raffia offers from the producer remain stable at last week’s level, at $1,050/ton on LC at sight, CIF Vietnam main port basis.
- Likewise, a Vietnamese PP producer also increased PP Homo Raffia offers this week. A converter in Vietnam informed SSESSMENTS.COM that offers received from the producer stood at VND26,300,000/ton ($1,126/ton) on cash, FD Vietnam basis and including 10% VAT. The offers were VND300,000/ton ($13/ton) higher than last week’s level.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 42.63 | August Settlement | -0.45 |
| NYMEX | 40.37 | August Settlement | -0.36 |
| Naphtha | 363 | CFR Japan | 1 |
| Ethylene | 837-845 | CFR NEA | No Changes |
| Ethylene | 787-795 | CFR SEA | No Changes |
| Propylene | 782-790 | CFR China | No Changes |
| Propylene | 737-745 | 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 | 15,000,000*-15,700,000 | 1,056-1,105 |
| Southeast Asia | IDR | 14,800,000 | 1,042 |
| Malaysia | MYR | 4,080*-4,130* | 953-965 |
| Philippines | PHP | 60,000**-62,000** | 1,068-1,104 |
| Thailand | THB | 35,000-35,500 | 1,130-1,146 |
| Vietnam | VND | 24,300,000-26,300,000 | 945-1,023 |
| Saudi | VND | 26,000,000 | 1,012 |
| Thailand | VND | 27,600,000 | 1,074 |
Description: *Offers on 30 days credit term **Offers on 60 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 | 940 |
| Indian Subcontinent | PP Homo Raffia | 930 |
| Middle East | PP Homo Raffia | 930 |
| Southeast Asia | PP Homo Raffia | 920-940 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on June 24, 2020 11:51 AM (GMT+8)
Last Updated on June 24, 2020 11:51 AM (GMT+8)
