monthlyssessments-april-sea-pp-prices

Based on the data obtained by SSESSMENTS.COM’s team, local offers in the Southeast Asia PP market were stable to soft during April. In Malaysia, April delivery offers for PP Homopolymer and Copolymer grades from the local producer lowered between MYR350-800/ton ($81-186/ton) compared to March. On the week commencing April 20, the Malaysian producer closed orders for PP Homopolymer grades after the company sold a lot of allocation to China market on the prior week. In Thailand, offers for PP Homopolymer grades from the local producers were mostly captured on a downtrend during the first half of April, with a total reduction of between THB500-1,000/ton ($15-30/ton). However, on the week commencing April 20, Thai producers adjusted up the offers for PP across all grades by THB1,500/ton ($46/ton) on a weekly comparison as the producers have sold some big quantities to both domestic and export markets. Moving to the end of the week, the Thai producers decided to maintain the offers stable but received stiff resistance from buyers as most of them expected lower prices. Meanwhile, the Philippines producers did not give fresh local offers in April; the producers were only giving offers if there were any inquiries from buyers. Detailed information for Indonesia and Vietnam market is available in MonthlySSESSMENTS of the respective countries.

In the import market, there were not many offers captured in the Southeast Asia PP market due to the bearish sentiment, SSESSMENTS.COM noted. On April 3, offers for PP Homo Raffia of Middle East origin to Myanmar emerged with a decrease of $30/ton from a week earlier, stood at $790/ton on LC at sight, CIF Yangon Port. Whereas April shipment offers for PP Homo Film from a Middle Eastern producer decreased by $50/ton compared to March shipment. Deals for PP Homo Film cargoes were concluded at the same level to the initial offer at $800/ton on the same payment and delivery term. On the week commencing April 20, offers for PP Homo Raffia from Southeast Asian producers were available at $800-850/ton on LC at sight, CIF Southeast Asia Main Port basis.

Overall, the PP market in the Southeast Asia region during April was slow due to the Coronavirus pandemic. Particularly in the third week of the month, market sentiment in the region was eroded further as US crude oil futures prices dropped to negative territory for the first time in history. At that time, SSESSMENTS.COM was told that buyers preferred to wait on the sidelines and halt procurement in anticipation of further lower prices. In Thailand, most converters experienced hardship in selling their products. Similarly, trader’s sales dropped by 40% from normal sales before the curfew was imposed in the country. In Malaysia and the Philippines, the market was dormant due to lockdown. Particularly in the Philippines, the overall sales for end-products were slowing down and led to a significant decline in sales for PP resins from traders’ end by around 30-40% from the normal days before the lockdown was imposed. In the production sector, Thai IRPC has planned to undergo maintenance shutdown at the company’s PP plant no. 3 and no. 4 with each capacity of 225,000 tons/year and 160,000 tons/year respectively for 45 days starting from mid-June.

Entering May, the majority of market players opined to SSESSMENTS.COM that the outlook for PP market remains pessimistic. Some opined that even after the Coronavirus outbreak is controlled, it still needs time for the market to recover from the virus impact. In terms of prices, the room for decreases remains open considering the sluggish demand in the region.

Transactions for local PP between April 1 to April 3 on cash/credit term, FD basis and excluding VAT (except in PHP including 12% VAT, all equivalent in USD excluding VAT)

Origin	Product	Transaction Type	Currency	Offers/ton	Equivalent in USD/ton	Payment Term	Delivery Country
Malaysia	PP Block Copolymer	Price List	MYR	4,320-4,380	1,004-1,018	30 Days Credit Term	Malaysia
Malaysia	PP Homo Film	Price List	MYR	3,950	918	30 Days Credit Term	Malaysia
Thailand	PP Homo Film	Offer Received	THB	29,500-30,000	905-920	Cash In Advance	Thailand
Thailand	PP Homo Film	Offer Given	THB	29,000-30,500	890-936	Cash In Advance	Thailand
Malaysia	PP Homo Injection	Price List	MYR	3,750	872	30 Days Credit Term	Malaysia
Thailand	PP Homo Injection	Sold	THB	28,500	874	Cash In Advance	Thailand
Thailand	PP Homo Injection	Offer Given	THB	29,500-30,000	905-920	Cash In Advance	Thailand
Malaysia	PP Homo Raffia	Price List	MYR	3,800-3,850	883-895	30 Days Credit Term	Malaysia
Malaysia	PP Homo Raffia	Offer Given	MYR	3,800	883	30 Days Credit Term	Malaysia
Philippines	PP Homo Raffia	Offer Given	PHP	67,000	1,182	Cash In Advance	Philippines
Thailand	PP Homo Raffia	Sold	THB	28,500	874	Cash In Advance	Thailand
Thailand	PP Homo Raffia	Offer Received	THB	29,000-29,500	890-905	Cash In Advance	Thailand
Thailand	PP Homo Raffia	Offer Given	THB	29,000	890	Cash In Advance	Thailand
Thailand	PP Homo Raffia	Offer Given	THB	28,500	874	Cash In Advance	Thailand
Thailand	PP Homo Raffia	Offer Given	THB	28,500-29,500	874-905	Cash In Advance	Thailand
Malaysia	PP Random Copolymer Extrusion	Price List	MYR	4,620-5,270	1,074-1,225	30 Days Credit Term	Malaysia
Thailand	PP Random Copolymer Injection	Offer Given	THB	33,500-34,500	1,028	Cash In Advance	Thailand

Transactions for import PP between April 1 to April 3 on LC at sight, CIF main port basis

Origin	Product	Transaction Type	Offers (USD/ton)	Delivery Country
Middle East	PP Homo Raffia	Offer Received	790	Myanmar

Transactions for local PP between April 6 to April 10 on cash/credit term, FD basis and excluding VAT (except in PHP including 12% VAT, all equivalent in USD excluding VAT)

Origin	Product	Transaction Type	Currency	Offers/ton	Equivalent in USD/ton	Payment Term	Delivery Country
Thailand	PP Homo Film	Offer Given	THB	28,000-29,000	859-890	Cash In Advance	Thailand
Thailand	PP Homo Film	Offer Received	THB	28,000-31,000	859-951	Cash In Advance	Thailand
Thailand	PP Homo Film	Purchased	THB	31,000	951	Cash In Advance	Thailand
Thailand	PP Homo Film	Sell Idea	THB	29,000	890	Cash In Advance	Thailand
Thailand	PP Homo Injection	Offer Given	THB	27,000-28,500	828-874	Cash In Advance	Thailand
Thailand	PP Homo Injection	Offer Received	THB	27,500-27,750	844-852	Cash In Advance	Thailand
Malaysia	PP Homo Raffia	Price List	MYR	4,650	1,081	30 Days Credit Term	Malaysia
Malaysia	PP Homo Raffia	Purchased	MYR	4,600	1,069	Cash In Advance	Malaysia
Philippines	PP Homo Raffia	Offer Given	PHP	67,000	1,182	Cash In Advance	Philippines
Thailand	PP Homo Raffia	Sell Idea	THB	28,500	874	Cash In Advance	Thailand
Thailand	PP Homo Raffia	Offer Given	THB	27,000-28,500	828-874	Cash In Advance	Thailand
Thailand	PP Homo Raffia	Offer Received	THB	27,500-28,000	844-852	Cash In Advance	Thailand

Transactions for import PP between April 6 to April 10 on LC at sight, CIF main port basis

Origin	Product	Transaction Type	Offers (USD/ton)	Delivery Country
Southeast Asia	PP Homo Raffia	Offer Received	810	Thailand
Middle East	PP Homo Film	Offer Received	800	Thailand
Middle East	PP Homo Film	Purchased	800	Thailand

Transactions for local PP between April 13 to April 17 on cash/credit term, FD basis and excluding VAT (except in PHP including 12% VAT, all equivalent in USD excluding VAT)

Origin	Product	Transaction Type	Currency	Offers/ton	Equivalent in USD/ton	Payment Term	Delivery Country
Malaysia	PP Homo Film	Price List	MYR	3,950	918	30 Days Credit Terms	Malaysia
Thailand	PP Homo Film	Offer Given	THB	27,500-28,000	844-859	Cash In Advance	Thailand
Thailand	PP Homo Film	Offer Received	THB	26,500-28,000	813-859	Cash In Advance	Thailand
Thailand	PP Homo Film	Purchased	THB	27,000	828	Cash In Advance	Thailand
Malaysia	PP Homo Injection	Price List	MYR	3,750	872	30 Days Credit Terms	Malaysia
Thailand	PP Homo Injection	Offer Given	THB	26,500-27,500	813-844	Cash In Advance	Thailand
Thailand	PP Homo Injection	Offer Received	THB	26,000-27,000	798-828	Cash In Advance	Thailand
Malaysia	PP Homo Raffia	Purchased	MYR	3,600	837	Cash In Advance	Malaysia
Malaysia	PP Homo Raffia	Purchased	USD	815	-	Cash In Advance	Malaysia
Philippines	PP Homo Raffia	Offer Given	PHP	67,000	1,182	Cash In Advance	Philippines
Thailand	PP Homo Raffia	Offer Given	THB	26,500-27,500	813-844	Cash In Advance	Thailand
Thailand	PP Homo Raffia	Offer Received	THB	26,000-28,500	798-874	Cash In Advance	Thailand

Transactions for import PP between April 13 to April 17 on LC at sight, CIF main port basis

Origin	Product	Transaction Type	Offers (USD/ton)	Delivery Country
Singapore	PP Block Copolymer	Offer Received	950	Southeast Asia
Vietnam	PP Homo Raffia	Offer Received	800	Malaysia

Transactions for local PP between April 20 to April 24 on cash/credit term, FD basis and excluding VAT (except in PHP including 12% VAT, all equivalent in USD excluding VAT)

Origin	Product	Transaction Type	Currency	Offers/ton	Equivalent in USD/ton	Payment Term	Delivery Country
Malaysia	PP Homo Film	Price List	MYR	3,950	918	30 Days Credit Terms	Malaysia
Malaysia	PP Homo Film	Offer Given	MYR	3,950	918	30 Days Credit Terms	Malaysia
Thailand	PP Homo Film	Offer Received	THB	27,000-29,000	828-890	Cash In Advance	Thailand
Thailand	PP Homo Film	Offer Given	THB	27,500-29,000	844-890	Cash In Advance	Thailand
Malaysia	PP Homo Injection	Price List	MYR	3,750	872	30 Days Credit Terms	Malaysia
Thailand	PP Homo Injection	Offer Received	THB	28,500	874	Cash In Advance	Thailand
Thailand	PP Homo Injection	Offer Given	THB	27,000-28,500	828-874	Cash In Advance	Thailand
Malaysia	PP Homo Raffia	Price List	MYR	3,800-3,850	883-895	30 Days Credit Terms	Malaysia
Philippines	PP Homo Raffia	Offer Given	PHP	67,000	1,182	Cash In Advance	Philippines
Thailand	PP Homo Raffia	Offer Received	THB	28,500	874	Cash In Advance	Thailand
Thailand	PP Homo Raffia	Offer Given	THB	27,500-28,500	844-874	Cash In Advance	Thailand

Transactions for import PP between April 20 to April 24 on LC at sight, CIF Southeast Asia main port basis

Origin	Product	Transaction Type	Offers (USD/ton)
Southeast Asia	PP Homo Raffia	Offer Given	800-850

Transactions for local/localized PP between April 27 to April 30 on cash/credit term, FD basis and excluding VAT (except in PHP including 12% VAT, all equivalent in USD excluding VAT)

Origin	Product	Transaction Type	Currency	Offers/ton	Equivalent in USD/ton	Payment Term	Delivery Location
Malaysia	PP Block Copolymer	Price List	MYR	4,060-4,130	944-960	30 Days Credit Term	Malaysia
Malaysia	PP Homo Film	Price List	MYR	3,950	918	30 Days Credit Term	Malaysia
Thailand	PP Homo Film	Offer Given	THB	28,750	882	Cash In Advance	Thailand
Thailand	PP Homo Film	Offer Given	THB	28,500-29,000	874-890	30 Days Credit Term	Thailand
Malaysia	PP Homo Injection	Price List	MYR	3,750	872	30 Days Credit Term	Malaysia
Southeast Asia	PP Homo Injection	Offer Given	PHP	62,000-65,000	1,093-1,146	Cash In Advance	Philippines
Thailand	PP Homo Injection	Offer Given	THB	28,250	867	Cash In Advance	Thailand
Thailand	PP Homo Injection	Sold	THB	27,500	844	Cash In Advance	Thailand
Thailand	PP Homo Injection	Offer Given	THB	28,000-28,500	859-874	30 Days Credit Term	Thailand
Malaysia	PP Homo Raffia	Offer Received	MYR	3,600	837	Cash In Advance	Malaysia
Malaysia	PP Homo Raffia	Price List	MYR	3,800-3,850	883-895	30 Days Credit Term	Malaysia
Philippines	PP Homo Raffia	Offer Given	PHP	67,000	1,182	Cash In Advance	Philippines
Southeast Asia	PP Homo Raffia	Offer Given	PHP	62,000-65,000	1,093-1,146	Cash In Advance	Philippines
Thailand	PP Homo Raffia	Offer Given	THB	28,250	867	Cash In Advance	Thailand
Thailand	PP Homo Raffia	Sold	THB	27,500	844	Cash In Advance	Thailand
Thailand	PP Homo Raffia	Buy Idea	THB	27,500-28,000	844-859	30 Days Credit Term	Thailand
Thailand	PP Homo Raffia	Offer Given	THB	28,000-28,500	859-874	30 Days Credit Term	Thailand
Malaysia	PP Random Copolymer Extrusion	Price List	MYR	4,360-5,010	1,013-1,165	30 Days Credit Term	Malaysia

Transactions for import PP between April 27 to April 30 on LC at sight, CIF Main Port basis

Origin	Product	Transaction Type	Offers (USD/ton)	Delivery Country
Malaysia	PP Homo Raffia	Offer Received	850	Philippines
Vietnam	PP Homo Raffia	Offer Received	860	Philippines

MonthlySSESSMENTS: April SEA PP Prices

Author: SSESSMENTS

MonthlySSESSMENTS: April SEA PP Prices

Author: SSESSMENTS

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