- A global trading house shared with SSESSMENTS.COM on the latest import PP offers along with current demand conditions in the Vietnam market. As informed, import PP Homo Raffia prices continued with strong gains in June, holding firm on the back of rising propylene costs. However, concern over the second wave of coronavirus infections put a damper on end-products demand. As such, most converters are reluctant to purchase in bulk and unwilling to build inventory level. The trader, in turn, has been facing difficulties in concluding deals in the market but were still able to conclude some deals in the previous week. In terms of offers, the trader said that the company had no fresh PP offers available in Vietnam market last week. For the outlook, the trader voiced out that there would be room for import PP prices to continue its rally supported by firmer feedstock cost, despite concern over the resurgence of Covid-19.
- A local distributor in Malaysia revealed to SSESSMENTS.COM that the leading polyolefins producer in the country has announced higher offers for July delivery to domestic market on a month-on-month comparison. As compared to June delivery, the producer’s offers for PP Homo Raffia adjusted up by MYR320/ton ($74.6/ton), while offers for PP Block Copolymer emerged with an increase of MY280/ton ($65/ton).
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 41.71 | August Settlement | 0.69 |
| NYMEX | 39.70 | August Settlement | 1.21 |
| Naphtha | 359 | CFR Japan | No Changes |
| Ethylene | 852-860 | CFR NEA | 4 to 6 |
| Ethylene | 787-795 | CFR SEA | No Changes |
| Propylene | 787-795 | CFR China | 9 to 11 |
| 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 | 14,500,000-15,000,000 | 1,010-1,045 |
| Southeast Asia | IDR | 15,200,000 | 1,059 |
| Malaysia | MYR | 4,400*-4,450* | 1,027-1,038 |
| Philippines | PHP | 64,000 | 1,146 |
| Thailand | THB | 35,000-36,000 | 1,131-1,164 |
| Vietnam | VND | 24,200,000-26,300,000 | 945-1,027 |
Description: *Offers on 30 days credit term
Import on LC at sight, CIF Southeast Asia main port basis
| Origin | Product | Offers (USD/ton) |
|---|
| Middle East | PP Homo Raffia | 940-980 |
| Southeast Asia | PP Homo Raffia | 980 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on June 30, 2020 11:48 AM (GMT+8)
Last Updated on June 30, 2020 11:48 AM (GMT+8)
