- A global trading house contacted by SSESSMENTS.COM revealed that the latest offers for PP Homo Raffia from a Saudi producer rose from last week’s $950-960/ton to this week’s $990/ton on LC at sight, CIF Indonesia Main port basis. The producer sets the benchmark at $990/ton-level since they already manage to sell at this level to other markets. However, for Indonesia market, such a level is deemed unworkable. The trader tried to approach buyers with sell idea at $950/ton-level, but has yet to conclude any deals as most buyers’ buy idea is below the trader’s sell idea.
- In the Philippines, a trader reported to SSESSMENTS.COM that the latest offers for PP Homo Raffia from a local polyolefins producer remain stable from last week’s level. The offers are available at PHP64,000-65,000/ton ($1,300-1,320/ton) on cash, FD Philippines basis and including 12% VAT.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 43.41 | September Settlement | 0.07 |
| NYMEX | 41.6 | September Settlement | 0.31 |
| 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 | 14,800,000*-15,000,000 | 1,015-1,023 |
| Malaysia | MYR | 4,400*-4,450* | 1,034-1,045 |
| Philippines | PHP | 64,000-65,000 | 1,161-1,179 |
| Thailand | THB | 33,500-35,000* | 1,061-1,109 |
| Vietnam | VND | 24,860,000-26,000,000 | 973-1,018 |
Description: *Offers on 30 days credit term
Import on LC at sight, CIF Southeast Asia main port basis
| Origin | Product | Offers (USD/ton) |
|---|
| Indian Subcontinent | PP Homo Raffia | 940 |
| Middle East | PP Homo Raffia | 950-990 |
| Southeast Asia | PP Homo Raffia | 990-1,050 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on July 28, 2020 12:00 PM (GMT+8)
Last Updated on July 28, 2020 12:59 PM (GMT+8)
