DailySSESSMENTS: SEA PP Price 29th June 2020

Author: SSESSMENTS

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- A global trading house informed SSESSMENTS.COM that last week, the offers for import Middle Eastern PP Homo Raffia cargoes remained stable on a weekly comparison at $930/ton on LC at sight, CIF Vietnam Main Port basis. Buyers placed bids at $10/ton lower than the initial offer level but rejected, and eventually deals were concluded at the initial offer level. The trader was also offering South African PP Homo Raffia cargoes and most customers were not interested in taking the cargoes. Some customers submitted bids at $920/ton with the same payment and delivery term and the trader is still considering whether to accept the bids or not. Overall, buying sentiment was quite good last week.

- Market sources reported to SSESSMENTS.COM that the leading Indonesian polyolefins producer has announced the price list for the week commencing June 29. Compared to a week earlier, the offers for PP Homo Raffia are kept stable at IDR15,060,000/ton ($1,049/ton) on cash, FD Indonesia, and excluding 10% VAT.

Product	Price (USD)	Terms	Changes From Previous Trading Day (USD)
Brent	41.02	August Settlement	-0.03
NYMEX	38.49	August Settlement	-0.23
Naphtha	359	CFR Japan	No Changes
Ethylene	848-854	CFR NEA	9 to 11
Ethylene	787-795	CFR SEA	No Changes
Propylene	778-784	CFR China	-4 to -6
Propylene	737-745	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	15,060,000	1,049
Malaysia	MYR	4,080-4,130	950-962
Philippines	PHP	64,000	1,143
Thailand	THB	35,000-36,000	1,130-1,162
Vietnam	VND	24,200,000-26,300,000	944-1,026