- Far East Asia origin $965-980/ton
- Middle East origin $920-980/ton
- Southeast Asia origin $980-1,050/ton
Comments by market players on PP Homo Raffia as follows:
“On a monthly comparison, offers for Middle Eastern PP Homo Raffia increased by $100/ton. We purchased these cargoes at the same level to the initial offers at $950/ton on LC at sight, CIF Indonesia Main Port basis as the producer was firm on the deal level,” an Indonesian converter informed SSESSMENTS.COM.
A global trading house commented on July 7, “Our offers for Saudi PP Homo Raffia to Indonesia moved up by $80/ton compared to early June. We think current offers at $960/ton on LC at sight, CIF Indonesia Main Port basis are competitive. However, no bids or inquiries have been received yet.”
“As Indian and Middle Eastern producers lowered PP Homo Raffia offers by $10/ton compared to last week, we decided to slash the offers to our customers by the same amount,” an Indonesian trader shared with SSESSMENTS.COM.
A Vietnamese trader informed, “Offers for Saudi PP Homo Raffia remain stable from last week. While offers for PP Homo Raffia of South Korea origin dropped by $30/ton compared to the same period. So far, no deals concluded yet as most buyers prefer to wait for the sustainability in China market before making procurements. Moreover, the rainy season also dampens buying sentiment in the Vietnam market even more.”
“We maintain stable offers for PP Homo Raffia cargoes to the Southeast Asia market. We managed to sell some volume to Indonesia and Vietnam at the same level to the initial offers and some at $5/ton lower than the initial offers between $925-930/ton on LC at sight, CIF Main Port basis. We believe that PP prices should be stable going forward as demand is not strong yet and current prices are already quite high,” the leading Indian petrochemical producer shared on July 8.
“This week, we do not have many offers available for PP Homo Raffia cargoes. We only have offers for South Korean PP Homo Raffia at $980/ton on LC at sight, CIF Vietnam Main Port basis. So far, no deals concluded yet as these materials are not popular in the market. We heard that offers for Middle Eastern and South Korean PP Homo Raffia are available between $970-980/ton-level in the market. However, these offers are too high as buy idea from buyers are between $910-920/ton on the same payment and delivery terms,” another global trading house revealed to SSESSMENTS.COM.
A regional trader stated on July 8, “We are offering Vietnamese PP Homo Raffia cargoes to Indonesia at $1,000/ton on LC at sight, CFR Indonesia Main Port basis for late July to early August shipment after obtaining allocation from a Vietnamese producer. Considering the current market sentiment, buyers will most likely try to place bids lower and the deals would be below the initial offer level.”
“We received offers for South Korean PP Homo Raffia cargoes at $25/ton lower than last week’s level. However, we do not plan to purchase these cargoes as we still have sufficient inventory and are currently waiting for some materials from the previous procurements to arrive,” a manufacturer in Vietnam informed.
A Philippines trader shared with SSESSMENTS.COM on deals level for PP Homo Raffia cargoes. “This week, we closed deals for four containers of Vietnamese PP Homo Raffia cargoes at $990/ton on LC at sight, CIF Philippines Main Port basis.”
Transactions for import PP Homo Raffia between July 6 to July 10 on LC at sight, CIF/CFR Main Port basis
| Origin | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| Far East Asia | Buy Idea* | 910-920 | Vietnam |
| Far East Asia | Offer Given | 980 | Vietnam |
| Far East Asia | Offer Received | 965-970 | Vietnam |
| Indian Subcontinent | Offer Received | 925-960 | Indonesia |
| Indian Subcontinent | Sold | 925-930 | Indonesia |
| Indian Subcontinent | Sold | 925-940 | Vietnam |
| Middle East | Offer Given | 940-960 | Indonesia |
| Middle East | Offer Received | 950-980 | Indonesia |
| Middle East | Purchased | 920-950 | Indonesia |
| Middle East | Buy Idea* | 910-920 | Vietnam |
| Middle East | Offer Given | 950-960 | Vietnam |
| Middle East | Offer Received | 960-970 | Vietnam |
| Middle East | Purchased | 950 | Vietnam |
| Middle East | Sold | 950-960 | Vietnam |
| Southeast Asia | Offer Given | 980-1,000 | Indonesia |
| Southeast Asia | Offer Received | 980-1,000 | Indonesia |
| Southeast Asia | Sold | 990 | Philippines |
| Southeast Asia | Offer Given | 1,030 | Vietnam |
| Southeast Asia | Offer Received | 1,050-1,060 | Vietnam |
Description: *Buy idea from buyers
Tags: Asia Pacific,English,News,PP,SEA
Published on July 13, 2020 12:27 PM (GMT+8)
Last Updated on July 13, 2020 12:27 PM (GMT+8)
