- A trader in Thailand stated to SSESSMENTS.COM that local PE offers in the country remain unchanged from last week. However, the trader opined that the current offers are unworkable. More added, the curfew in Thailand might be extended until the end of May, but the government will allow some department stores, barbershops, and restaurants to reopen. However, no official announcement yet. Most converters hope that the decision to reopen some businesses will help finished product demand to recover as currently, sales on the converters’ end reportedly have dropped around 30-40% from normal sales. While on the trader’s end, sales have declined by 40% compared to before the curfew was imposed. The trader opined that PE market outlook remains pessimistic as the economy would not recover soon even if the COVID-19 outbreak is over.
- Meanwhile, in Indonesia, a converter informed SSESSMENTS.COM that LLDPE Film C4 offers from the leading Indonesian polyolefins producer stood at IDR13,000,000/ton ($842/ton) on cash, FD Indonesia basis and including 10% VAT. However, the converter submitted bids at IDR500,000/ton ($32/ton) lower than the initial offers. So far, no response yet from the supplier. Currently, the converter is running production at 50-70% from normal capacity. However, the converter stated that the current production rate is considered normal amid the large-scale social restrictions (PSBB) and Ramadhan (fasting month). During the Eid Al-Fitr holiday, the converter plans to halt production considering the slow finished product demand.
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| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 20.46 | June Settlement | 0.47 |
| NYMEX | 12.34 | June Settlement | -0.44 |
| Naphtha | 192 | CFR Japan | -1 |
| Ethylene | 362-370 | CFR NEA | 10 |
| Ethylene | 328-334 | CFR SEA | No Changes |
| Propylene | 682-690 | CFR China | 4 to 6 |
| Propylene | 632-640 | FOB Korea | 4 to 6 |
HDPE Film, on cash/credit term, FD basis, excluding VAT (except PHP term includes 12% VAT, all equivalent in USD excludes VAT)
| Origin | Currency | Offers/ton | Equivalent in USD/ton |
|---|
| Indonesia | IDR | 11,600,000*-12,000,000* | 751-777 |
| Southeast Asia | IDR | 12,000,000-12,480,000* | 777-808 |
| Malaysia | MYR | 3,660* | 838 |
| Philippines | PHP | 59,000-60,000 | 1,040-1,058 |
| Southeast Asia | PHP | 54,000 | 952 |
| Thailand | THB | 28,500-28,750* | 877-884 |
Description: *Offers on 30 days credit term
LDPE Film, on cash/credit term, FD basis, excluding VAT (except PHP term includes 12% VAT, all equivalent in USD excludes VAT)
| Origin | Currency | Offers/ton | Equivalent in USD/ton |
|---|
| Malaysia | MYR | 4,270*-4,370* | 978-1,001 |
| Thailand | THB | 33,500-34,000* | 1,030-1,046 |
| Southeast Asia | PHP | 64,000 | 1,128 |
Description: *Offers on 30 days credit term
LLDPE Film C4, on cash/credit term, FD basis, excluding VAT (except PHP term includes 12% VAT, all equivalent in USD excludes VAT)
| Origin | Currency | Offers/ton | Equivalent in USD/ton |
|---|
| Indonesia | IDR | 11,000,000-11,810,000 | 712-765 |
| Southeast Asia | IDR | 11,300,000-11,900,000* | 732-771 |
| Malaysia | MYR | 3,620* | 829 |
| Philippines | PHP | 50,000 | 881 |
| Southeast Asia | PHP | 55,000 | 969 |
| Thailand | THB | 28,500-28,750* | 877-884 |
Description: *Offers on 30 days credit term
Import on LC at sight, CIF Southeast Asia main port basis
| Origin | Product | Offers (USD/ton) |
|---|
| Middle East | HDPE Film | 705-770 |
| North America | HDPE Film | 710 |
| Southeast Asia | HDPE Film | 740-790 |
| Middle East | LDPE Film | 800-860* |
| Southeast Asia | LDPE Film | 870-930 |
| Indian Subcontinent | LLDPE Film C4 | 750 |
| Middle East | LLDPE Film C4 | 675-740* |
| North America | LLDPE Film C4 | 660-700 |
| Southeast Asia | LLDPE Film C4 | 740-790 |
Description: *Shipment from Malaysia and Singapore
Tags: Asia Pacific,Daily,English,PE,SEA
Published on April 29, 2020 11:41 AM (GMT+8)
Last Updated on April 30, 2020 9:25 AM (GMT+8)
