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MonthlySSESSMENTS: June SEA PS Prices

Author: SSESSMENTS

  • Price trend in June trailed market mood
  • Finished product demand not yet recovered
  • Pricing outlook cautious with coronavirus development

With softer price movement, SSESSMENTS.COM noted that demand recorded stable in Southeast Asia PS market. Most Indonesian traders and local producers opted to keep the offer stable for GPPS Injection and HIPS Injection until mid-June. Then, on the week commencing June 22, local PS offers down between IDR 300,000-700,000/ton ($/ton) depending on grades following slow PS demand in the country. Market sources told that HIPS Injection for June delivery and July shipment allocation has been sold out in Malaysia on the week of June 15 with offers between $970-1,000/ton-level. Vietnamese producers only offer GPPS to regular customers with limited quantities at $20-30/ton higher on weekly comparison. Finally, the Thailand market recorded fresh local offers at THB34,000/ton ($ /ton) on the final day of June after going flat across the month. From the import market, South Korean PS cargoes going into Southeast Asia underwent a rollercoaster trend throughout June and ended with an increase of $10/ton for GPPS Injection, while HIPS Injection rose $20/ton compared to its level at the beginning of the month. Import transactions remain limited as local PS prices are considered to be more competitive and market participants have already acquired a large volume of import cargoes in the previous months. Despite one of the Taiwanese PS producers halted their production for GPPS Injection and some grade for HIPS Injection, the company is still selling remaining stock to the Southeast Asia market. Offers for GPPS Injection reported stable, while HIPS Injection recorded up by $50/ton as compared to May shipment offers. The producer also continues to raise HIPS Injection offers by $30/ton for July shipment offers, which according to market players is not matching the current sluggish demand.

Vietnam has become a leading country that has begun to recover their PS resin demand after being able to deal with a coronavirus outbreak in the country while the overall Southeast Asian market has been slow. Food and beverage packaging materials are still being most sought for end-product demand, while particular sectors such as automotive and electrical home appliances have not yet recovered. Likewise, most manufacturers in Indonesia were only running at 40% from the maximum capacity and the buying quantity was only at 30% from the normal volume as end-product only started to come back after implementation of new normal transitions imposed in Jakarta and surrounding areas. Market players contacted by SSESSMENTS.COM informed that the availability of domestic and imported PS cargoes remain sufficient at the moment, no significant issues reported.

For the outlook, market players shared with SSESSMENTS.COM that local and imported PS prices will be stable in the upcoming weeks in line with stable SM prices. As for demand, buyers remain cautious amid uncertainties in the market due to the fear of the second wave of coronavirus outbreak.

Range of local/localized PS offers between June 1 to June 5 on cash/credit term, FD basis, excluding VAT in all terms

OriginProductTransaction TypeCurrencyOffers/tonEquivalent in USD/tonPayment TermDelivery Country
IndonesiaGPPS InjectionOffer GivenUSD980-1,030-Cash In AdvanceIndonesia
IndonesiaGPPS InjectionOffer GivenIDR14,900,0001,034Cash In AdvanceIndonesia
IndonesiaGPPS InjectionOffer ReceivedIDR15,600,0001,08290 Days Credit TermIndonesia
ThailandGPPS InjectionOffer ReceivedIDR15,900,0001,10390 Days Credit TermIndonesia
IndonesiaGPPS InjectionPurchasedIDR14,900,0001,034Cash In AdvanceIndonesia
IndonesiaGPPS InjectionPurchasedIDR14,000,00097130 Days Credit TermIndonesia
IndonesiaGPPS InjectionSoldUSD980-Cash In AdvanceIndonesia
IndonesiaHIPS InjectionOffer GivenUSD1,150-1,195-Cash In AdvanceIndonesia
IndonesiaHIPS InjectionOffer GivenIDR15,900,0001,103Cash In AdvanceIndonesia
IndonesiaHIPS InjectionOffer ReceivedIDR16,600,0001,15290 Days Credit TermIndonesia
ThailandHIPS InjectionOffer ReceivedIDR16,700,0001,1,5990 Days Credit TermIndonesia
IndonesiaHIPS InjectionPurchasedIDR15,900,0001,103Cash In AdvanceIndonesia
IndonesiaHIPS InjectionSoldUSD1,150-1,155-Cash In AdvanceIndonesia

Range of import PS offers between June 1 to June 5 on LC at sight, CIF Main Port basis

OriginProductTransaction TypeOffers (USD/ton)Delivery Country
Far East AsiaGPPS InjectionOffer Given870-900Southeast Asia
Far East AsiaGPPS InjectionOffer Received865-920Vietnam
Far East AsiaHIPS InjectionOffer Given970-1,000Southeast Asia
Far East AsiaHIPS InjectionOffer Received965-1,000Vietnam
Southeast AsiaHIPS InjectionOffer Given970-1,000Southeast Asia

Range of local/localized PS offers between June 8 to June 12 on cash/credit term, FD basis, excluding VAT in all terms

OriginProductTransaction TypeCurrencyOffers/tonEquivalent in USD/tonPayment TermDelivery Country
IndonesiaGPPS InjectionOffer GivenIDR14,500,000-15,000,0001,006-1,041Cash In AdvanceIndonesia
VietnamGPPS InjectionOffer GivenUSD910-920-Cash In AdvanceVietnam
IndonesiaGPPS InjectionPurchasedIDR16,000,0001,11030 Days Credit TermIndonesia
IndonesiaHIPS InjectionOffer GivenIDR15,500,000-16,500,0001,075-1,145Cash In AdvanceIndonesia
MalaysiaHIPS InjectionOffer GivenUSD970-1,000-Cash In AdvanceMalaysia

Range of import PS offers between June 8 to June 12 on LC at sight, CIF/FOB Main Port basis

OriginProductTransaction TypeOffers (USD/ton)Delivery TermDelivery Country
Far East AsiaGPPS InjectionOffer Received910-940CIFVietnam
Southeast AsiaGPPS InjectionOffer Given900CIFSoutheast Asia
Southeast AsiaGPPS InjectionOffer Given900FOBVietnam
Southeast AsiaGPPS InjectionOffer Received980CIFVietnam
Far East AsiaHIPS InjectionOffer Received1,010-1,050CIFVietnam
Southeast AsiaHIPS InjectionOffer Given970-1,000CIFSoutheast Asia
Southeast AsiaHIPS InjectionOffer Received1,060CIFVietnam

Range of local/localized PS offers between June 15 to June 19 on cash/credit term, FD basis (including 10% VAT in VND term, all equivalent in USD excluding VAT)

OriginProductTransaction TypeCurrencyOffers/tonEquivalent in USD/tonPayment TermDelivery Country
IndonesiaGPPS InjectionOffer GivenIDR15,000,0001,04130 Days Credit TermIndonesia
IndonesiaGPPS InjectionOffer GivenIDR14,300,000-15,700,000992-1,089Cash In AdvanceIndonesia
IndonesiaGPPS InjectionOffer ReceivedIDR15,700,0001,08990 Days Credit TermIndonesia
TaiwanGPPS InjectionOffer GivenVND30,000,0001,166Cash In AdvanceVietnam
ThailandGPPS InjectionOffer GivenVND28,000,0001,089Cash In AdvanceVietnam
VietnamGPPS InjectionSoldUSD920-Cash In AdvanceVietnam
IndonesiaHIPS InjectionOffer GivenIDR16,000,0001,11030 Days Credit TermIndonesia
IndonesiaHIPS InjectionOffer GivenIDR15,300,000-16,700,0001,062-1,159Cash In AdvanceIndonesia
IndonesiaHIPS InjectionOffer ReceivedIDR16,700,0001,15990 Days Credit TermIndonesia
TaiwanHIPS InjectionOffer GivenVND33,000,0001,283Cash In AdvanceVietnam
ThailandHIPS InjectionOffer GivenVND31,000,0001,205Cash In AdvanceVietnam

Range of import PS offers between June 15 to June 19 on LC at sight, CIF Main Port basis

OriginProductTransaction TypeOffers (USD/ton)Delivery Country
Far East AsiaGPPS InjectionOffer Received970Vietnam
Far East AsiaGPPS InjectionOffer Received1,250Malaysia
Southeast AsiaGPPS InjectionOffer Received1,000Vietnam
Far East AsiaHIPS InjectionOffer Received1,050Vietnam
Far East AsiaHIPS InjectionOffer Received1,280Malaysia

Range of export PS offers between June 15 to June 19 on LC at sight, FOB Vietnam basis

OriginProductTransaction TypeOffers (USD/ton)
VietnamGPPS InjectionSell Idea920

Range of local/localized PS offers between June 22 to June 26 on cash/credit term, FD basis (including 10% VAT in VND term, all equivalent in USD excluding VAT)

OriginProductTransaction TypeCurrencyOffers/tonEquivalent in USD/tonPayment TermDelivery Country
IndonesiaGPPS InjectionOffer GivenIDR14,000,000-15,000,000971-1,041Cash In AdvanceIndonesia
IndonesiaGPPS InjectionOffer GivenUSD1,020-1,070-Cash In AdvanceIndonesia
IndonesiaGPPS InjectionOffer ReceivedIDR15,000,0001,04190 Days Credit TermIndonesia
TaiwanGPPS InjectionOffer GivenVND30,000,0001,166Cash In AdvanceVietnam
ThailandGPPS InjectionOffer GivenVND28,000,0001,089Cash In AdvanceVietnam
VietnamGPPS InjectionOffer GivenUSD950-Cash In AdvanceVietnam
VietnamGPPS InjectionSoldUSD950-Cash In AdvanceVietnam
IndonesiaHIPS InjectionOffer GivenIDR15,000,000-16,000,0001,041-1,110Cash In AdvanceIndonesia
IndonesiaHIPS InjectionOffer GivenUSD1,090-1,170-Cash In AdvanceIndonesia
IndonesiaHIPS InjectionOffer ReceivedIDR16,000,0001,11090 Days Credit TermIndonesia
TaiwanHIPS InjectionOffer GivenVND33,000,0001,283Cash In AdvanceVietnam
ThailandHIPS InjectionOffer GivenVND31,000,0001,205Cash In AdvanceVietnam

Range of import PS offers between June 22 to June 26 on LC at sight, CIF Main Port basis

OriginProductTransaction TypeOffers (USD/ton)Delivery Country
Far East Asia*GPPS InjectionOffer Given920Indonesia
Far East Asia**GPPS InjectionOffer Received930Vietnam
Far East Asia*HIPS InjectionOffer Given1,020Indonesia
Far East Asia**HIPS InjectionOffer Received1,020Vietnam
Description: *July shipment offers; **August shipment offers

Range of export PS offers between June 22 to June 26 on LC at sight, FOB Vietnam basis

OriginProductTransaction TypeOffers (USD/ton)
VietnamGPPS InjectionOffer Given920

Range of local/localized PS offers between June 29 to June 30 on cash, FD basis, excluding VAT in all terms

OriginProductTransaction TypeCurrencyOffers/tonEquivalent in USD/tonDelivery Country
ThailandGPPS InjectionOffer ReceivedTHB34,0001,095Thailand

Range of import PS offers between June 29 to June 30 on LC at sight, CIF Main Port basis

OriginProductTransaction TypeOffers (USD/ton)Delivery Country
Far East Asia*GPPS InjectionOffer Given920Indonesia
Southeast AsiaGPPS InjectionOffer Received980-1,000Indonesia
Far East Asia*HIPS InjectionOffer Given1,020Indonesia
Description: *July shipment offers

Tags: Asia Pacific,English,Monthly,SEA,Styrenics

Published on July 2, 2020 4:27 PM (GMT+8)
Last Updated on July 2, 2020 4:27 PM (GMT+8)