DailySSESSMENTS: SEA PP Price 27th July 2020

Author: SSESSMENTS

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- Market sources in Indonesia revealed to SSESSMENTS.COM that the leading Indonesian polyolefins producer in the county has announced fresh price list for the week commencing july 27. As compared to the previous week, the producer initiated a price reduction of IDR330,000/ton ($22.6/ton) for PP Homo Raffia cargoes. Current PP Homo Raffia offers from the producer’s end are available at IDR15,240,000/ton ($1,044/ton) on cash, FD Indonesia basis and excluding 10% VAT.

- Whereas in Thailand, at the end of last week, on July 24, a trader quoted lower offers for local cargoes to the domestic market. On a fortnight comparison, the trader initiated a price reduction of THB2,000/ton ($63/ton) for local PP Homo Raffia cargoes, available in the market at THB35,000/ton ($1,104/ton) on cash, FD Thailand basis and excluding 7% VAT. The move, however, has drawn negative responses from most buyers. Despite a huge drop in prices, most customers were reluctant to take the cargoes.

Product	Price (USD)	Terms	Changes From Previous Trading Day (USD)
Brent	43.34	September Settlement	0.03
NYMEX	41.29	September Settlement	0.22
Naphtha	394	CFR Japan	2
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	15,240,000	1,044
Malaysia	MYR	4,400-4,450	1,032-1,043
Philippines	PHP	64,000	1,158
Thailand	THB	33,500-35,000*	1,057-1,104
Vietnam	VND	24,860,000-26,000,000	971-1,016