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DailySSESSMENTS: SEA PP Price 30th July 2020

Author: SSESSMENTS

- A regional trader unveiled to SSESSMENTS.COM that the company managed to sell PP Homo Raffia of Vietnam origin to Indonesia and the Philippines market at $990/ton on LC at sight, CIF basis. Since last week, the trader has sold 15-20 containers to those markets. However, the trader is pessimistic that buying sentiment for PP Homo Raffia will sustain. Demand from the Philippines market will be absent in the near time on the back of sufficient inventory on-hand. In the Indonesia market, the source opined that the deals should be concluded at a higher level, but demand in the country is not supporting any high prices. 

- Whereas in Indonesia, a converter contacted by SSESSMENTS.COM revealed that the biggest local trading house is offering localized PP Homo Raffia of Southeast Asia origin at IDR13,900,000/ton ($953/ton) on cash, FD basis and excluding 10% VAT for minimum purchases of 300 tons. Further added by the converter, at the moment the company prefers to digest inventory on-hand while closely monitoring the market.

ProductPrice (USD)TermsChanges From Previous Trading Day (USD)
Brent43.75September Settlement0.53
NYMEX41.27September Settlement0.23
Naphtha393CFR JapanNo Changes
Ethylene798-804CFR NEANo Changes
Ethylene712-720CFR SEANo Changes
Propylene818-824CFR ChinaNo Changes
Propylene778-784FOB KoreaNo 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)

OriginCurrencyOffers/tonEquivalent in USD/ton
IndonesiaIDR14,000,000-15,250,000***960-1,046
MalaysiaIDR14,800,0001,015
Southeast AsiaIDR13,900,000953
MalaysiaMYR4,550*1,070
PhilippinesPHP64,000-65,0001,160-1,178
ThailandTHB32,500-33,0001,030-1,046
ChinaVND25,600,000**1,002
IndiaVND25,600,000**1,002
SaudiVND26,200,000**-26,800,0001,026-1,049
VietnamVND24,420,000956
Description: *Offers on 30 days credit term **Offers on EXW basis ***Offers on 15 days credit term

Import on LC at sight, CIF Southeast Asia main port basis

OriginProductOffers (USD/ton)
Far East AsiaPP Homo Raffia960
Indian SubcontinentPP Homo Raffia940
Middle EastPP Homo Raffia950-990
Southeast AsiaPP Homo Raffia990-1,050

Tags: Asia Pacific,Daily,English,PP,SEA

Published on July 30, 2020 11:38 AM (GMT+8)
Last Updated on July 30, 2020 12:33 PM (GMT+8)