A Thai trader reported to SSESSMENTS.COM that the gap between offers for local PP Film and non-Film grades in the country widens. The spread expanded from THB500/ton ($16/ton) last week to THB1,000/ton ($31/ton) this week. According to the trader, three PP producers in Thailand mentioned having tight supply, especially for PP Film grades. A Thai PP producer further informed the trader that the producer is currently producing some Spunbond grades to cater to export orders. Thus, supply for other grades is affected.
Due to the limited supply, local PP producers increased offers across all grades between THB500-1,000/ton ($16-31/ton) compared to a week ago. However, SSESSMENTS.COM was informed that buyers resist the new offer levels. The trader has not received any bids from customers so far. For export offers to Vietnam, offers for PP Homo Raffia from a Thai PP producer increased by $15/ton while the increment for PP Homo Injection offers was only by $5/ton. Lower offers for PP Homo Injection were due to higher availability on the producer’s end for this grade as compared to PP Homo Raffia.
Similar to responses from buyers in the domestic market, responses from buyers in Vietnam were cold as offers for other origin were still available below $900/ton-level, the trader told SSESSMENTS.COM. According to rumour, offers for PP Homo Raffia from South Korea were at $860-880/ton on LC at sight, CIF Vietnam main port basis.
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Local PP offers on cash, FD Thailand basis and excluding 7% VAT in all terms
| Origin | Product | Transaction Type | Offers (THB/ton) | Equivalent in USD/ton |
|---|
| Thailand | PP Homo Raffia | Offer Received | 30,000 | 939 |
| Thailand | PP Homo Raffia | Offer Given | 30,500 | 955 |
| Thailand | PP Homo Injection | Offer Received | 30,000 | 939 |
| Thailand | PP Homo Injection | Offer Given | 30,500 | 955 |
| Thailand | PP Homo Film | Offer Received | 31,000 | 971 |
| Thailand | PP Homo Film | Offer Given | 31,500 | 986 |
Import PP offers on LC at sight, CIF Vietnam main port basis
| Origin | Product | Transaction Type | Offers (USD/ton) |
|---|
| Thailand | PP Homo Raffia | Offer Given | 930 |
| Thailand | PP Homo Injection | Offer Given | 900 |
Tags: Asia Pacific,English,News,PP,SEA,Thailand,Vietnam
Published on May 27, 2020 5:52 PM (GMT+8)
Last Updated on May 27, 2020 5:52 PM (GMT+8)
