- A Vietnamese converter told SSESSMENTS.COM that the company skipped procurement activities this week due to unworkable import PP Homo Raffia offers. The converter also informed that there were not many import offers available this week. A Thai PP producer did not offer to the Vietnam market because the producer did not have any cargoes to sell. The converter only received PP Homo Raffia offers from South Korea between $940-950/ton on LC at sight, CIF Vietnam main port basis. As such, the converter will just wait and see if there would be some price revision later.
- A Thai trader reported to SSESSMENTS.COM on increasing PP offers across all grades by THB1,000/ton ($32/ton) compared to last week due to limited supply. Currently, offers for PP Homo Raffia from the trader stand at THB35,000/ton ($1,124/ton) on cash, FD Thailand basis and excluding 7% VAT. Buyers considered the offer level as too high, hence, shrug off the offers. The trader opined that chances for further increases in local PP prices are slim as the current prices are already unworkable.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 41.51 | August Settlement | 0.8 |
| NYMEX | 38.84 | July Settlement | 0.88 |
| Naphtha | 357 | CFR Japan | 5 |
| Ethylene | 837-845 | CFR NEA | No Changes |
| Ethylene | 787-795 | CFR SEA | No Changes |
| Propylene | 778-784 | CFR China | 4 to 6 |
| Propylene | 733-739 | FOB Korea | 5 |
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 | 14,500,000-15,000,000 | 1,019-1,054 |
| Southeast Asia | IDR | 13,800,000-14,800,000 | 970-1,040 |
| Malaysia | MYR | 4,080*-4,130* | 953-965 |
| Philippines | PHP | 60,000**-62,000** | 1,068-1,104 |
| Thailand | THB | 33,500-35,000 | 1,075-1,124 |
| Vietnam | VND | 24,600,000-26,400,000 | 958-1,028 |
| Saudi | VND | 26,000,000 | 1,013 |
| South Korea | VND | 25,000,000 | 974 |
Description: *Offers on 30 days credit term **Offers on 60 days credit term
Import on LC at sight, CIF Southeast Asia main port basis
| Origin | Product | Offers (USD/ton) |
|---|
| Far East Asia | PP Homo Raffia | 940-950 |
| Indian Subcontinent | PP Homo Raffia | 900-930 |
| Middle East | PP Homo Raffia | 920-950 |
| Southern Africa | PP Homo Raffia | 900 |
| Southeast Asia | PP Homo Raffia | 920-940 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on June 19, 2020 12:08 PM (GMT+8)
Last Updated on June 19, 2020 12:10 PM (GMT+8)
