- Market sources in Malaysia revealed to SSESSMENTS.COM that a Malaysian polyolefins producer has announced a fresh price list for April delivery. According to the sources, the producer initiated a price reduction of MYR800/ton ($185/ton) for PP Homo Raffia as compared to the previous price list.
- In Thailand, a local distributor informed SSESSMENTS.COM that offers for local PP Homo Raffia cargoes from one of the local PP producers dipped by THB500/ton ($15/ton) as compared to last week’s level, available at THB29,500/ton ($900/ton) on cash, FD Thailand basis and excluding 7% VAT. However, the distributor is willing to sell at a cost level, or THB500/ton ($15/ton) lower than the initial offer level. To the export market, offers for PP Homo Raffia from the same producer to Vietnam were adjusted down by $30/ton from last week, captured at $885/ton on LC at sight, CIF Vietnam Main Port basis. Despite the price adjustment, most buyers regarded the offer as high and unworkable. From the distributor’s end, sales remain slow as most buyers are anticipating another round of downward adjustment amid sluggish demand for end-products.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 22.74 | May Settlement | -0.02 |
| NYMEX | 20.48 | May Settlement | 0.39 |
| Naphtha | 191 | CFR Japan | -99 |
| Ethylene | 507-515 | CFR NEA | -24 to -26 |
| Ethylene | 478-484 | CFR SEA | No Changes |
| Propylene | 607-615 | CFR China | -40 |
| Propylene | 587-595 | FOB Korea | -40 |
PP Homo Raffia on cash/credit term, FD basis, excluding VAT (except PHP term includes 12% VAT and VND term includes 10% VAT all equivalent in USD excludes VAT)
| Origin | Currency | Offers/ton | Equivalent in USD/ton |
|---|
| Indonesia | IDR | 14,860,000-15,200,000 | 908-929 |
| Southeast Asia | IDR | 14,900,000*-15,200,000 | 911-929 |
| Vietnam | IDR | 14,850,000 | 908 |
| Malaysia | MYR | 3,800*-3,850* | 880-892 |
| Philippines | PHP | 67,000 | 1,175 |
| Thailand | THB | 29,000-29,500 | 885-900 |
| Vietnam | VND | 23,000,000 | 881 |
Description: *Offers on 30 days credit term
Import on LC at sight, CIF Southeast Asia main port basis
| Origin | Product | Offers (USD/ton) |
|---|
| China | PP Homo Raffia | 780 |
| Far East Asia | PP Homo Raffia | 820-880 |
| Middle East | PP Homo Raffia | 800-880 |
| Southeast Asia | PP Homo Raffia | 830-900 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on April 1, 2020 1:17 PM (GMT+8)
Last Updated on April 1, 2020 1:49 PM (GMT+8)
