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DailySSESSMENTS: SEA PP Price 15th July 2020

Author: SSESSMENTS

- A trader informed to SSESSMENTS.COM that import PP Homo Raffia prices of Vietnam origin to Indonesia for the week commencing July 13 captured stable to firmer by $10/ton from last week’s level. The increases on the formula prices noted as the major ground of the upward adjustment. In terms of demand, buyers were showing limited interest in import Vietnamese cargoes since last week. Buyers prefer to source locally on the back of competitive offers. Added to that, the demand for PP resins in Indonesia remains dull due to the slow sales for the end-products. Converters are keeping procurement on a hand-to-mouth basis as they are cautious about their spending. The dull demand is expected to last until the end of July. More added, the celebration of Eid Al-Adha predicted to give a limited impact on the PP market. 

- Whereas in Vietnam, a trader reported to SSESSMENTS.COM that the company adjusted up the offers for localized PP Homo Raffia of Saudi origin. As compared to last week’s level, the offers surfaced with increases of VND600,000/ton ($26/ton). Further added, the upward price adjustment was made in-line with the firm import PP prices. The trader stated that as long as import PP prices remain on the uptrend, there are no reasons to adjust down the offers.

ProductPrice (USD)TermsChanges From Previous Trading Day (USD)
Brent42.9September Settlement0.18
NYMEX40.29August Settlement0.19
Naphtha386CFR Japan-1
Ethylene798-804CFR NEANo Changes
Ethylene702-710CFR SEANo Changes
Propylene822-830CFR ChinaNo Changes
Propylene778-784FOB Korea4 to 6

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)

OriginCurrencyOffers/tonEquivalent in USD/ton
IndonesiaIDR14,800,000*-15,600,0001,016-1,071
Southeast AsiaIDR14,900,000*-15,800,0001,023-1,085
MalaysiaMYR4,400*-4,450*1,030-1,042
PhilippinesPHP64,0001,154
ThailandTHB35,000-36,0001,109-1,140
VietnamVND24,500,000-25,800,000956-1,006
SaudiVND26,000,000-27,500,0001,014-1,073
South KoreaVND26,000,0001,014
Description: *Offers on 30 days credit term

Import on LC at sight, CIF/CFR Southeast Asia main port basis

OriginProductOffers (USD/ton)
Far East AsiaPP Homo Raffia950-970
Indian SubcontinentPP Homo Raffia940-970
Middle EastPP Homo Raffia920-960
Southeast AsiaPP Homo Raffia990-1,030

Tags: Asia Pacific,Daily,English,PP,SEA

Published on July 15, 2020 12:06 PM (GMT+8)
Last Updated on July 15, 2020 12:06 PM (GMT+8)