- A distributor based in Thailand informed SSESSMENTS.COM that offers for PP Homo Raffia from one of the local producers remain stable from last week, at THB28,500/ton ($876/ton) on cash, FD Thailand basis and excluding 7% VAT. However, some buyers expressed their buy ideas for the grade between THB500-1,000/ton ($15-31/ton) lower than the initial offer, citing the current level is unworkable. At the moment, most buyers are adopting a wait-and-see stance. Most converters are having difficulties in selling their products and experiencing cash flow issues. From the distributor’s side, their sales have dropped by 40% from normal sales before the curfew was imposed. Speaking of curfew, Thailand reportedly has extended the state of emergency for a month until May 31, but no official announcement yet.
- Whereas in Indonesia, a trader reported to SSESSMENTS.COM on receiving better feedback from their customers this week. From the trader’s end, the latest offers for local PP Homo Raffia cargoes lowered by IDR500,000/ton ($32/ton) on a weekly comparison, available at IDR13,000,000/ton ($842/ton) on cash, FD Indonesia basis and excluding 10% VAT. Initially, some buyers submitted bids at IDR12,600,000/ton ($816/ton) on the same payment and delivery term. However, the trader regarded such a level as too low and decided to reject the bids. Eventually, deals were successfully concluded at the same level as the initial offer level but the payment is on 30 days credit term. From suppliers, the trader received local offers for PP Homo Raffia at IDR1,500,000 ($97/ton) lower than last week’s level. The trader decided to delay the procurement as they still have sufficient inventory.
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| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 20.46 | June Settlement | 0.47 |
| NYMEX | 12.34 | June Settlement | -0.44 |
| Naphtha | 192 | CFR Japan | -1 |
| Ethylene | 362-370 | CFR NEA | 10 |
| Ethylene | 328-334 | CFR SEA | No Changes |
| Propylene | 682-690 | CFR China | 4 to 6 |
| Propylene | 632-640 | FOB Korea | 4 to 6 |
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 | 12,200,000-13,000,000 | 790-841 |
| Australia | IDR | 13,200,000 | 854 |
| Southeast Asia | IDR | 12,600,000-13,200,000* | 815-854 |
| Malaysia | MYR | 3,800*-3,850* | 870-881 |
| Philippines | PHP | 67,000 | 1,180 |
| Southeast Asia | PHP | 62,000-65,000 | 1,093-1,145 |
| Thailand | THB | 28,000-28,500 | 861-876 |
| Vietnam | VND | 23,000,000 | 887 |
Description: *Offers on 30 days credit term
Import on TT/LC at sight, CIF Southeast Asia main port basis
| Origin | Product | Offers (USD/ton) |
|---|
| China | PP Homo Raffia | 820 |
| Far East Asia | PP Homo Raffia | 800-850 |
| Indian Subcontinent | PP Homo Raffia | 800 |
| Middle East | PP Homo Raffia | 760-780 |
| Southeast Asia | PP Homo Raffia | 790*-800 |
Description: *Offers on TT
Tags: Asia Pacific,Daily,English,PP,SEA
Published on April 29, 2020 11:56 AM (GMT+8)
Last Updated on April 30, 2020 1:26 PM (GMT+8)
