- An Indonesian PP producer reported to SSESSMENTS.COM on adjusting local offers following the weakening Rupiah against US Dollar. In comparison to last week, the latest offers for PP Homo Raffia from the producer’s end increased between IDR1,210,000-1,330,000/ton ($75-82/ton), slightly higher than the leading Indonesian polyolefins producer’s price adjustment since the producer is about to shut their PP plant. Pertaining to demand, the domestic market is quiet due to intensified spreads of the Coronavirus in the country.
- Whereas in Thailand, a trader informed SSESSMENTS.COM that local offers for PP Homo Raffia from the company’s end went down as much as THB1,000/ton ($30/ton) on a weekly comparison. Demand-wise, Thailand PP market reported remains quiet amid the intensified Coronavirus fears. The country is still waiting for the government’s regulation regarding the prevention of the virus. However, the demand for end-products, such as food, beverages and health needs slightly increases. For the outlook, the trader opined that the market will remain bearish onwards as more buyers will be waiting on the sidelines for another round of price reduction.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 26.34 | May Settlement | -1.05 |
| NYMEX | 22.6 | May Settlement | -1.89 |
| Naphtha | 292 | CFR Japan | No Changes |
| Ethylene | 547-555 | CFR NEA | No Changes |
| Ethylene | 528-534 | CFR SEA | No Changes |
| Propylene | 693-699 | CFR China | No Changes |
| Propylene | 668-674 | 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 | 14,700,000-15,600,000** | 910-966 |
| Southeast Asia | IDR | 14,870,000*-15,700,000* | 920-972 |
| Vietnam | IDR | 14,800,000 | 916 |
| Malaysia | MYR | 4,600*-4,650* | 1,055-1,066 |
| Philippines | PHP | 67,000 | 1,174 |
| Thailand | THB | 30,000-30,500 | 916-931 |
| Vietnam | VND | 23,500,000 | 907 |
Description: *Offers on 30 days credit term **Offers on 15 days credit term
Import on LC at sight, CIF Southeast Asia main port basis
| Origin | Product | Offers (USD/ton) |
|---|
| China | PP Homo Raffia | 850 |
| Indian Subcontinent | PP Homo Raffia | 845-900 |
| Middle East | PP Homo Raffia | 880 |
| Southeast Asia | PP Homo Raffia | 800-850 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on March 27, 2020 12:27 PM (GMT+8)
Last Updated on March 27, 2020 12:27 PM (GMT+8)
