- A trader based in the Philippines reported to SSESSMENTS.COM on the latest offers for PP Homo Raffia in the local market. This week, local offers for PP Homo Raffia from a local producer are available at PHP64,000/ton ($1,291/ton) on cash, FD Philippines basis and including 12% VAT. On a weekly comparison, the producer decided to maintain the offers at a stable level.
- Meanwhile, a regional trader contacted by SSESSMENTS.COM stated that the company already obtains allocations for PP Homopolymer grades from a Vietnamese producer. No further detail from the producer regarding the exact quantity but the trader assumed that the allocation would be enough. Upon obtaining the allocations, the trader immediately announced their offers for PP Homo Raffia of Vietnam origin at $1,000/ton on LC at sight, CFR Indonesia Main Port basis and the shipment would be in late July to early August. Since the offers just released on Tuesday evening, July 7, the trader has yet to receive any feedback from their customers. Considering the current market sentiment, the trader believes that buyers will likely submit bids lower from the initial offer level. At the moment, the trader has no sell ideas yet, but will provide room for negotiation and deals will depend on the bid and the volume of purchases.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 43.08 | September Settlement | -0.02 |
| NYMEX | 40.62 | August Settlement | -0.01 |
| Naphtha | 395 | CFR Japan | 1 |
| Ethylene | 837-845 | CFR NEA | -9 to -11 |
| Ethylene | 767-775 | CFR SEA | -9 to -11 |
| Propylene | 812-820 | CFR China | 5 |
| Propylene | 762-770 | FOB Korea | 5 |
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 | 14,700,000-15,750,000 | 1,018-1,091 |
| Southeast Asia | IDR | 15,700,000* | 1,087 |
| Malaysia | MYR | 4,400*-4,450* | 1,028-1,040 |
| Philippines | PHP | 64,000 | 1,153 |
| Thailand | THB | 34,000-36,000* | 1,137-1,153 |
| Vietnam | VND | 25,000,000-25,500,000 | 976-994 |
| Saudi | VND | 25,500,000-26,500,000 | 994-1,033 |
| Thailand | VND | 26,200,000-26,500,000 | 1,022-1,033 |
Description: *Offers on 30 days credit term
Import on LC at sight, CIF/CFR Southeast Asia main port basis
| Origin | Product | Offers (USD/ton) |
|---|
| Far East Asia | PP Homo Raffia | 970-980 |
| Indian Subcontinent | PP Homo Raffia | 925-960 |
| Middle East | PP Homo Raffia | 920-970 |
| Southeast Asia | PP Homo Raffia | 980-1,000 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on July 8, 2020 11:59 AM (GMT+8)
Last Updated on July 10, 2020 11:58 AM (GMT+8)
