- A trader who is also a converter based in Vietnam informed SSESSMENTS.COM on receiving import offers for PP Homo Raffia of Thailand origin with a remarkable adjustment. As compared to a fortnight ago, the latest offers were skyrocketed by $80/ton, currently at $950/ton on LC at sight, CIF Vietnam Main Port basis. Meanwhile, import offers for PP Homo Raffia of China origin are firm at $960/ton on the same payment and delivery term. Considering the high prices, the trader decided to skip purchasing import cargoes this week. Besides, the trader is still in contract with one of the local producers, as such, the cargoes from the producer itself should be enough for their production needs for a while. Furthermore, the trader added that the current uptrend is only caused by the firm energy market, so they are not sure about its sustainability. Demand-wise, orders from customers are still coming in as of recent.
- In Indonesia, a trader reported to SSESSMENTS.COM that the domestic market remains flat this week since most players are still away from their desk for Eid Al-Fitr holiday. Only a few converters are already back to the market and most of them are still keeping their production activities at a small rate. Hence, the volume of purchases for PP resins is only on a small quantity as well. In terms of offers, the current offers for local PP Homo Raffia from the trader’s end are available at IDR14,000,000-14,100,000/ton ($947-954/ton) on 30 days credit term, FD Indonesia basis and excluding 10% VAT. Looking ahead, the trader is still unsure about the market outlook amid the social restriction.
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| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 34.74 | July Settlement | -1.43 |
| NYMEX | 32.81 | July Settlement | -1.54 |
| Naphtha | 267 | CFR Japan | -2 |
| Ethylene | 718-724 | CFR NEA | 44 to 46 |
| Ethylene | 637-645 | CFR SEA | 25 |
| Propylene | 768-774 | CFR China | -24 to -26 |
| Propylene | 723-729 | FOB Korea | -24 to -26 |
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 | 14,000,000*-14,400,000** | 947-974 |
| Southeast Asia | IDR | 14,200,000 | 960 |
| Malaysia | MYR | 3,800*-3,850* | 872-884 |
| Philippines | PHP | 67,000 | 1,180 |
| Thailand | THB | 30,000-30,500 | 939-955 |
| Vietnam | VND | 23,000,000-24,300,000 | 892-943 |
| Saudi | VND | 23,000,000-23,500,000 | 892-912 |
Description: *Offers on 30 days credit term **Offer 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 | 960 |
| Middle East | PP Homo Raffia | 830-860 |
| Southeast Asia | PP Homo Raffia | 930-950 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on May 28, 2020 11:54 AM (GMT+8)
Last Updated on May 28, 2020 11:54 AM (GMT+8)
