- Indian Subcontinent origin $920-930/ton
- Middle East origin $870-930/ton
- Southeast Asia origin $900-950/ton
Comments by market players on PP Homo Raffia as follows:
“We received late July shipment offers for PP Homo Raffia of Vietnam origin via traders at $940/ton on LC at sight, CIF Indonesia main port basis. However, we are uninterested in purchasing the cargoes as it is risky to take import cargoes amidst very volatile prices,” a trader in Indonesia reported to SSESSMENTS.COM.
“It is very difficult to get PP Homo Raffia cargoes from the Middle East this week since most producers are running out of stock. We purchased cargoes from a Middle Eastern producer at $870/ton for 200 tons. Our request for additional volume was declined by the producer because no more allocation was available. We then purchased from another Middle Eastern producer at $900/ton. Offers from a Thai PP producer stand at $1,000/ton due to limited allocation. All offers are on LC at sight, CIF Indonesia main port basis,” an Indonesian converter informed.
“Buyers in the country are looking for import cargoes as local supply is limited. Besides, the government has issued BMDTP (Custom Duty Borne by Government). Inquiries keep coming, but we do not have PE and PP cargoes of Middle East origin anymore. We sold PP Homo Raffia of the Middle East and Vietnam origin at $880/ton and $900/ton on LC at sight, CIF Indonesia main port basis, respectively. We regretted selling at those levels as deals could be concluded at higher levels. At the moment, we only have PP Homo Raffia from India available between $920-925/ton with the same payment and delivery terms,” an Indonesian trader told SSESSMENTS.COM.
“We received offers for PP Homo Raffia from the Middle East, India and South Korea all at $930/ton on LC at sight, CIF Indonesia main port basis. For Middle East origin, the offers are between $30-60/ton higher than offers received last week,” an Indonesian converter reported.
“Offers between $940-1,000/ton on LC at sight, CIF Indonesia main port basis for PP Homo Raffia of Southeast Asia origin to Indonesia are too high even for non-dutiable cargoes and buyers in Indonesia are unable to accept yet,” a regional trader commented to SSESSMENTS.COM.
“PP offers are scarce. We only received PP Homo Raffia offers from a Saudi producer at $60/ton higher than last week, currently at $900/ton on LC at sight, CIF Vietnam main port basis. However, buyers are unable to accept high prices,” a trader in Vietnam said.
“Offers from a Saudi producer increased by $10/ton compared to last week. All allocation has been sold out at the beginning of the week at $880/ton on LC at sight, CIF Indonesia main port basis,” a global trading house informed SSESSMENTS.COM on June 10.
“Compared to last month, PP Homo Raffia offers from a Malaysian producer went up by $60/ton. Meanwhile, August shipment offers from the leading Indian petrochemical producer stand at a very high level, at $920/ton on LC at sight, CIF Vietnam main port basis,” a Vietnamese trader reported.
“A Thai PP producer is still quoting a ridiculous level, at $1,000/ton on LC at sight, CIF Vietnam main port basis as the producer has no intention to sell. PP Homo Raffia offers from the Middle East are at $920/ton with the same payment and delivery terms. Since import offers are unattractive, we skip procurements this week,” a Vietnamese converter told SSESSMENTS.COM.
Transactions for import PP Homo Raffia between June 8 to June 12 on LC at sight, CIF Main Port basis
Description: *Offers for August shipment
Tags: Asia Pacific,English,India,Indonesia,Korea,Malaysia,Middle East,News,PP,SEA,Thailand,Vietnam
Published on June 15, 2020 12:11 PM (GMT+8)
Last Updated on June 15, 2020 12:11 PM (GMT+8)