quarterlyssessments-q1-2020-bangladesh-pp-prices

As reported to SSESSMENTS.COM, import offers for PP across different grades in the Bangladesh market captured on an uptrend in the first month of Q1 2020. On a weekly comparison, import PP offers of Saudi and India origin went up between $30-40/ton. Via a global trading house, offers for Middle Eastern PP Homopolymer grades dipped between $10-20/ton from a month earlier. For February shipment, offers for PP cargoes from an Emirati producer raised between $20-30/ton. Likewise, PP Homo Film and PP Homo Injection cargoes of India origin also increased by $10/ton. From Saudi cargoes, import PP Homo Raffia offers surfaced with an increase of $10/ton. All compared to January shipment offers.

In February, a global trading house managed to conclude deals for Saudi PP Homo Raffia and PP Homo Injection at the initial offer levels. In comparison to the previous week, Chinese PP Homo Raffia cargoes emerged with a decrease of $30/ton. For March shipment offers, SSESSMENTS.COM’s data showed that PP Homo Raffia and PP Homo Film cargoes from a South African and Middle Eastern producer dropped between $20-30/ton. From the United Arab Emirates, PP cargoes across all grades surfaced with a reduction of between $10-20/ton, while PP Block Copolymer decreased significantly between $50-60/ton. Moreover, Indian PP Homo Injection and PP Homo Raffia cargoes declined by $20/ton. All compared to February shipment offers.

Strolling to March, import offers for Middle Eastern PP Homo Raffia and PP Homo Injection cargoes went down between $20-30/ton in the second week of the month. Meanwhile, in late March, PP Homo Raffia offers of India origin were lowered between $40-50/ton. All price changes were on a weekly comparison. For deals, a global trading house managed to sell Indian PP cargoes, with deals for PP Homo Injection were slightly higher than PP Homo Raffia as the supply was lesser. At the final week of the month, the ripple effect of Coronavirus outbreak seen in the Bangladesh market and led to a decline in the number of transactions as well as inquiries, SSESSMENTS.COM was told.

In the first half of January, demand for PP was striking due to the sudden surge in crude oil prices following the US-Iran tension. Afterwards, as most converters already have sufficient stock, buying sentiment started to weaken. At the same time, buyers were also cautious that Coronavirus issues in China would affect polymers prices. In February, the overall demand remained sluggish, yet a slight improvement was observed at the end of the month as buyers were running out of stocks. In March, the outbreak of COVID-19 intensified and deteriorated buying sentiment further. Since the Coronavirus cases increased, the Bangladesh government decided to impose a nationwide lockdown starting from March 26 until April 4. As a result, logistics and trading activities were affected. Most market players preferred to adopt a wait-and-see stance in anticipation of lower prices. On the supply side, tightness in PP cargoes was reported during January and March. Likewise, supply for PP Homo Homo Film was scarce in March due to limited offers from foreign suppliers, SSESSMENTS.COM noted.

Regarding the outlook, Bangladeshi market players contacted by SSESSMENTS.COM opined that the Coronavirus lockdown might be extended and it will heavily affect the PP market. Due to this, players voiced out their pessimistic outlook for Bangladesh PP market onward.

Range of import PP transactions in January on LC at sight, CFR/CIF Bangladesh Main Port basis

Origin	Product	Transaction Type	Offers (USD/ton)	Delivery Term
Middle East	PP Block Copolymer	Offer Given	1,040-1,050	CFR
Indian Subcontinent	PP Homo Film	Offer Received	1,065	CFR
Indian Subcontinent	PP Homo Film	Sold	1,025	CFR
Middle East	PP Homo Film	Buy Idea	1,050-1,060	CFR
Middle East	PP Homo Film	Offer Given	1,050	CIF
Middle East	PP Homo Film	Offer Received	1,100	CFR
Middle East	PP Homo Film	Sold	1,060	CFR
Southeast Asia	PP Homo Film	Offer Given	1,180	CFR
Indian Subcontinent	PP Homo Injection	Sold	1,000	CFR
Middle East	PP Homo Injection	Offer Given	1,020	CIF
Middle East	PP Homo Injection	Offer Received	1,050	CIF
North America	PP Homo Injection	Offer Received	1,000	CIF
Southeast Asia	PP Homo Injection	Offer Given	1,155	CFR
Southeast Asia	PP Homo Injection	Sold	1,140	CFR
China	PP Homo Raffia	Offer Given	1,030	CFR
Indian Subcontinent	PP Homo Raffia	Sold	1,000	CFR
Middle East	PP Homo Raffia	Buy Idea	1,010	CFR
Middle East	PP Homo Raffia	Offer Given	1,020	CIF
Middle East	PP Homo Raffia	Offer Given	1,000	CFR
Middle East	PP Homo Raffia	Offer Received	1,030	CFR
Middle East	PP Homo Raffia	Offer Received	1,020-1,050	CIF
Middle East	PP Homo Raffia	Sold	1,020	CFR
North America	PP Homo Raffia	Offer Received	1,010-1,025	CIF
Southeast Asia	PP Homo Raffia	Offer Given	1,155	CFR
Southeast Asia	PP Homo Raffia	Offer Received	1,010	CIF
Southeast Asia	PP Homo Raffia	Offer Received	1,050	CFR
Southeast Asia	PP Homo Raffia	Sold	1,000	CFR
Middle East	PP Random Copolymer Injection	Offer Given	1,040-1,050	CFR

Range of import PP transactions in February on LC at sight, CFR/CIF Bangladesh Main Port basis

Origin	Product	Transaction Type	Offers (USD/ton)	Delivery Term
Middle East	PP Block Copolymer	Offer Received	990	CFR
Indian Subcontinent	PP Homo Film	Offer Given	1,080-1,090	CIF
Middle East	PP Homo Film	Bid Received	970-975	CIF
Middle East	PP Homo Film	Offer Given	980	CIF
Middle East	PP Homo Film	Offer Received	980	CFR
Southeast Asia	PP Homo Film	Sold	1,170-1,180	CIF
Indian Subcontinent	PP Homo Injection	Bid Given	980-1,000	CFR
Indian Subcontinent	PP Homo Injection	Offer Given	1,050	CIF
Indian Subcontinent	PP Homo Injection	Offer Received	960	CFR
Middle East	PP Homo Injection	Bid Received	950-955	CIF
Middle East	PP Homo Injection	Offer Given	1,050	CIF
Middle East	PP Homo Injection	Offer Given	980-1,030	CFR
Middle East	PP Homo Injection	Offer Received	980	CFR
Middle East	PP Homo Injection	Sold	1,030	CFR
Southeast Asia	PP Homo Injection	Sold	1,155	CIF
Southern Africa	PP Homo Injection	Offer Received	980	CFR
China	PP Homo Raffia	Buy Idea	950	CFR
China	PP Homo Raffia	Offer Given	1,000	CFR
China	PP Homo Raffia	Offer Received	950	CFR
China	PP Homo Raffia	Sold	970-980	CFR
Indian Subcontinent	PP Homo Raffia	Bid Given	980-1,000	CFR
Indian Subcontinent	PP Homo Raffia	Offer Given	980	CIF
Indian Subcontinent	PP Homo Raffia	Offer Received	960	CFR
Indian Subcontinent	PP Homo Raffia	Sold	990	CFR
Middle East	PP Homo Raffia	Bid Received	950	CFR
Middle East	PP Homo Raffia	Bid Received	950-955	CIF
Middle East	PP Homo Raffia	Offer Given	960-1,030	CFR
Middle East	PP Homo Raffia	Offer Given	960	CIF
Middle East	PP Homo Raffia	Offer Received	950-1,010	CFR
Middle East	PP Homo Raffia	Offer Received	1,010-1,070	CIF
Middle East	PP Homo Raffia	Sold	960-1,030	CFR
Southeast Asia	PP Homo Raffia	Offer Received	1,020	CFR
Southeast Asia	PP Homo Raffia	Sold	1,155	CIF
Southern Africa	PP Homo Raffia	Offer Received	980	CFR
Middle East	PP Random Copolymer Injection	Offer Received	1,040	CFR

Range of import PP transactions in March on LC at sight, CFR/CIF Bangladesh Main Port basis

Origin	Product	Transaction Type	Offers (USD/ton)	Delivery Term
Indian Subcontinent	PP Homo Film	Offer Given	1,020	CIF
Middle East	PP Homo Film	Offer Given	950	CFR
Middle East	PP Homo Film	Offer Given	980-990	CIF
Southeast Asia	PP Homo Film	Offer Given	1,030-1,040	CIF
Indian Subcontinent	PP Homo Injection	Offer Given	960	CFR
Indian Subcontinent	PP Homo Injection	Sold	980-990	CFR
Indian Subcontinent	PP Homo Injection	Offer Given	950-960	CIF
Middle East	PP Homo Injection	Bid Received	780	CFR
Middle East	PP Homo Injection	Offer Given	820-830	CFR
Middle East	PP Homo Injection	Offer Given	920-960	CIF
Southeast Asia	PP Homo Injection	Offer Given	900-910	CFR
China	PP Homo Raffia	Buy Idea	900	CFR
China	PP Homo Raffia	Offer Given	910-925	CFR
China	PP Homo Raffia	Sold	910-920	CFR
Indian Subcontinent	PP Homo Raffia	Offer Given	880-950	CFR
Indian Subcontinent	PP Homo Raffia	Sold	880-940	CFR
Indian Subcontinent	PP Homo Raffia	Offer Given	940-960	CIF
Indian Subcontinent	PP Homo Raffia	Sold	940-950	CIF
Middle East	PP Homo Raffia	Bid Received	780	CFR
Middle East	PP Homo Raffia	Buy Idea	900	CFR
Middle East	PP Homo Raffia	Offer Given	920-940	CFR
Middle East	PP Homo Raffia	Offer Received	910-920	CFR
Middle East	PP Homo Raffia	Offer Given	920-960	CIF
Southeast Asia	PP Homo Raffia	Offer Given	880-930	CFR
Southeast Asia	PP Homo Raffia	Offer Received	920-930	CFR

QuarterlySSESSMENTS: Q1 2020 Bangladesh PP Prices

Author: SSESSMENTS

QuarterlySSESSMENTS: Q1 2020 Bangladesh PP Prices

Author: SSESSMENTS

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