monthlyssessments-may-sea-ps-prices

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At the beginning of May, fresh import PS offers were scarce in the Southeast Asia market
PS demand in Southeast Asia region was subdued, except in Vietnam
PS prices expected to remain stable following the feedstock price movements

In May, various price trends for local PS offers were captured in the Southeast Asia market. On May 8, SSESSMENTS.COM was informed that a local producer in Indonesia has sold out May allocation for GPPS Injection and HIPS Injection to both local and export markets. In the local market, GPPS Injection and HIPS Injection were sold at $950/ton and between $1,010-1,040/ton, respectively. All offers were on cash, FD Indonesia basis, and excluding 10% VAT. While to the export market, GPPS Injection sold to China at $900-930/ton and HIPS Injection sold to Australia at $1,020-1,050/ton. Meanwhile, from the trader’s end, offers for local GPPS and HIPS Injection were available IDR500,000/ton ($35/ton) higher compared to the producer’s offers in the first week of May. However, in the following week, the trader adjusted down GPPS Injection and HIPS Injection by IDR1,000,000/ton ($69/ton) on a weekly comparison following a local producer pricing strategy. Local GPPS Injection and HIPS Injection in Indonesia remain stable until the end of May.

While in Vietnam, on the week commencing May 4, local GPPS Injection offers from a local producer decreased by $10/ton on a weekly comparison. Local GPPS Injection offers in Vietnam continue to increase with a total increment of $20/ton during May in line with the uptrend on crude oil and SM prices. In the export market, SSESSMENTS.COM’s pricing database showed that offers for GPPS Injection from a Vietnamese PS producer remain stable in the first half of May and stood at $840/ton on LC at sight, FOB Vietnam basis. On the week commencing May 18, the producer initiated a price increase of $10/ton as crude oil prices moved higher.

In the import market, in the week commencing May 4, fresh PS offers were scarce in the Southeast Asia market. A week later, an Indonesian trader received Southeast Asian GPPS Injection offers at $830/ton on LC at sight, CIF Indonesia Main Port basis. However, the trader was not interested in taking the cargoes considering the quiet market in Indonesia. While for Taiwanese GPPS Injection cargoes, buy idea from the Vietnamese buyers was between $20-30/ton lower than the initial offers at $825-835/ton on LC at sight, CIF Vietnam Main Port basis. Meanwhile, SSESSMENTS.COM noted that deals for Thai GPPS Injection were concluded at $20/ton lower from the initial level. As for import HIPS Injection cargoes, deals for HIPS Injection of Taiwan origin to Vietnam were concluded between $930-940/ton with the same payment and delivery terms via traders as market talks have it that direct offers from a Taiwanese producer were too high.

During May, PS demand in Southeast Asia region was subdued, except in Vietnam. Buyers in Indonesia and the Philippines prefer to halt procurements or only buying on a need basis due to the slow demand for finished products. Moreover, approaching the end of May, trading activities were mostly flat due to the Eid Al-Fitr holiday in Indonesia and Malaysia. On the week commencing May 25, Malaysia market was closed for the first two days of the week. Likewise, the Philippines was also on holiday on Monday, May 25. While in Indonesia, despite the government postponed Eid Al-Fitr collective holidays from May 26-29 to December 28-31, most companies decided to halt operations for the country’s major celebration. In contrast, after the government eased nationwide lockdown in Vietnam, trading activities in the country have gradually picked up and the market was active. As such, healthy demand was recorded in the Vietnam market throughout May. On the supply front, no significant issue was reported to SSESSMENTS.COM.

Looking ahead, Southeast Asian market players opined to SSESSMENTS.COM that PS demand in the region will remain sluggish in the days to come even after several countries begin to ease the lockdown and reopen businesses as converters and factories are still not fully operational. Moreover, finished product demand will remain slow as the aftermath of a slow economy due to the Coronavirus outbreak. In terms of pricing, the higher feedstock prices will provide a cushion to PS prices in Southeast Asia in the near term.

Click below to view related stories and content on SEA PS:

NewsSSESSMENTS: Sources: Vietnam PS Market Enjoys Robust Demand Despite Pandemic

NewsSSESSMENTS: Indonesian PS Producer Sold Out May Allocation To Local, Export Market

WeeklySSESSMENTS: SEA PS Prices Week Starting May 4

WeeklySSESSMENTS: SEA PS Prices Week Starting May 11

WeeklySSESSMENTS: SEA PS Prices Week Starting May 18

WeeklySSESSMENTS: SEA PS Prices Week Starting May 25

Range of local/localized PS offers between May 1 to May 8 on cash/credit term, FD basis, excluding VAT in all terms

Origin	Product	Transaction Type	Currency	Offers/ton	Equivalent in USD/ton	Payment Term	Delivery Country
Indonesia	GPPS Injection	Offer Given	IDR	16,000,000-16,500,000	1,110-1,145	Cash In Advance	Indonesia
Indonesia	GPPS Injection	Offer Received	IDR	16,000,000	1,110	Cash In Advance	Indonesia
Indonesia	GPPS Injection	Offer Received	IDR	16,000,000	1,110	90 Days Credit Term	Indonesia
Indonesia	GPPS Injection	Purchased	IDR	14,500,000	1,006	Cash In Advance	Indonesia
Thailand	GPPS Injection	Offer Received	IDR	16,600,000	1,152	90 Days Credit Term	Indonesia
Indonesia	GPPS Injection	Sold	USD	950	-	Cash In Advance	Indonesia
Vietnam	GPPS Injection	Offer Given	USD	870-890	-	Cash In Advance	Vietnam
Indonesia	HIPS Injection	Offer Given	IDR	17,000,000-17,500,000	1,180-1,215	Cash In Advance	Indonesia
Indonesia	HIPS Injection	Offer Received	IDR	17,000,000	1,180	Cash In Advance	Indonesia
Indonesia	HIPS Injection	Offer Received	IDR	17,000,000	1,180	90 Days Credit Term	Indonesia
Indonesia	HIPS Injection	Purchased	IDR	15,500,000	1,076	Cash In Advance	Indonesia
Thailand	HIPS Injection	Offer Received	IDR	17,600,000	1,221	90 Days Credit Term	Indonesia
Indonesia	HIPS Injection	Sold	USD	1,010-1,040	1,040	Cash In Advance	Indonesia

Range of import PS offers between May 4 to May 8 on LC at sight, CIF Main Port basis

Origin	Product	Transaction Type	Offers (USD/ton)	Delivery Country
Far East Asia	GPPS Injection	Offer Received	1,250	Malaysia
Far East Asia	GPPS Injection	Sold	850-860	Vietnam
Far East Asia	HIPS Injection	Offer Received	1,230	Malaysia
Far East Asia	HIPS Injection	Sold	900-920	Vietnam

Range of export PS offers between May 4 to May 8 on LC at sight, FOB Vietnam basis

Origin	Product	Transaction Type	Offers (USD/ton)
Vietnam	GPPS Injection	Offer Given	840

Range of local PS offers between May 11 to May 15 on cash, FD basis, excluding VAT in all terms

Origin	Product	Transaction Type	Currency	Offers/ton	Equivalent in USD/ton	Delivery Country
Indonesia	GPPS Injection	Offer Given	IDR	15,500,000	1,076	Indonesia
Indonesia	GPPS Injection	Offer Received	IDR	15,000,000	1,041	Indonesia
Vietnam	GPPS Injection	Offer Given	USD	880-900	-	Vietnam
Indonesia	HIPS Injection	Offer Given	IDR	16,500,000	1,145	Indonesia
Indonesia	HIPS Injection	Offer Received	IDR	16,000,000	1,110	Indonesia

Range of import PS offers between May 11 to May 15 on LC at sight, CIF Main Port basis

Origin	Product	Transaction Type	Offers (USD/ton)	Delivery Country
Far East Asia	GPPS Injection	Offer Given	860-870	Vietnam
Far East Asia	GPPS Injection	Offer Received	830-900	Vietnam
Far East Asia	GPPS Injection	Purchased	830	Vietnam
Southeast Asia	GPPS Injection	Offer Received	830	Indonesia
Far East Asia	HIPS Injection	Offer Given	930-940	Vietnam
Far East Asia	HIPS Injection	Offer Received	940-1,000	Vietnam
Far East Asia	HIPS Injection	Purchased	940	Vietnam

Range of export PS offers between May 11 to May 15 on LC at sight, FOB Vietnam basis

Origin	Product	Transaction Type	Offers (USD/ton)
Vietnam	GPPS Injection	Offer Given	840

Range of local/localized PS offers between May 18 to May 22 on cash, FD basis, excluding VAT (including 10% VAT in VND term, equivalent in all terms excluding VAT)

Origin	Product	Transaction Type	Currency	Offers/ton	Equivalent in USD/ton	Delivery Country
Indonesia	GPPS Injection	Offer Given	IDR	15,000,000-15,500,000	1,041-1,076	Indonesia
Vietnam	GPPS Injection	Offer Given	USD	890-910	-	Vietnam
Indonesia	HIPS Injection	Offer Given	IDR	16,000,000-16,500,000	1,110-1,145	Indonesia
Singapore	HIPS Injection	Offer Received	VND	24,000,000	935	Vietnam

Range of import PS offers between May 18 to May 22 on LC at sight, CIF Main Port basis

Origin	Product	Transaction Type	Offers (USD/ton)	Delivery Country
Far East Asia	GPPS Injection	Buy Idea	825-835	Vietnam
Far East Asia	GPPS Injection	Offer Received	855-880	Vietnam
Southeast Asia	GPPS Injection	Offer Received	850-900	Vietnam
Southeast Asia	GPPS Injection	Purchased	830	Vietnam
Far East Asia	HIPS Injection	Offer Received	930	Vietnam
Southeast Asia	HIPS Injection	Offer Received	940-950	Vietnam

Range of export PS offers between May 18 to May 22 on LC at sight, FOB Vietnam basis

Origin	Product	Transaction Type	Offers (USD/ton)
Vietnam	GPPS Injection	Offer Given	850

Range of local PS offers between May 25 to May 29 on cash/credit term on FD basis, excluding VAT in all terms

Origin	Product	Transaction Type	Currency	Offers/ton	Equivalent in USD/ton	Payment Term	Delivery Country
Indonesia	GPPS Injection	Offer Given	IDR	15,000,000	1,041	30 Days Credit Term	Indonesia
Indonesia	GPPS Injection	Offer Given	IDR	15,000,000	1,041	Cash In Advance	Indonesia
Indonesia	GPPS Injection	Sell Idea	IDR	14,800,000	1,027	Cash In Advance	Indonesia
Indonesia	HIPS Injection	Offer Given	IDR	16,000,000	1,110	30 Days Credit Term	Indonesia
Indonesia	HIPS Injection	Offer Given	IDR	16,000,000	1,110	Cash In Advance	Indonesia
Indonesia	HIPS Injection	Sell Idea	IDR	15,800,000	1,097	Cash In Advance	Indonesia

Range of import PS offers between May 25 to May 29 on LC at sight, CIF Main Port basis

Origin	Product	Transaction Type	Offers (USD/ton)	Delivery Country
Far East Asia	GPPS Injection	Purchased	850	Vietnam
Far East Asia	HIPS Injection	Sold	930-940	Vietnam
Southeast Asia	HIPS Injection	Offer Received	970	Vietnam

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

Published on June 4, 2020 4:35 PM (GMT+8)
Last Updated on June 5, 2020 1:33 PM (GMT+8)

MonthlySSESSMENTS: May SEA PS Prices

Author: SSESSMENTS

MonthlySSESSMENTS: May SEA PS Prices

Author: SSESSMENTS

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