- This week, a trader based in Indonesia decided to maintain the offers stable for local PP Homo Raffia following the pricing strategy implemented by the leading polyolefins producer in the country. As SSESSMENTS.COM noted, some deals were concluded at IDR15,200,000/ton ($1,035/ton) on cash, FD Indonesia basis and excluding 10% VAT, or IDR100,000/ton ($7/ton) lower than the initial offer levels. Demand-wise, no improvement is seen in demand for PP resins this week in-line with the sales for converters’ end-products. In the days to come, the trader believes that local PP prices will remain stable to firmer around IDR100,000-300,000/ton ($7-21/ton) as supported by the movement in the exchange rate and the uptrend in feedstock prices.
- In Thailand, a trader informed SSESSMENTS.COM that the latest offers for PP Homo Raffia from a local producer remained stable from last week’s level. Currently, the offers are available at THB35,500/ton ($1,147/ton) on cash, FD Thailand basis and excluding 7% VAT.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 41.15 | August Settlement | -0.56 |
| NYMEX | 39.27 | August Settlement | -0.43 |
| Naphtha | 371 | CFR Japan | 12 |
| Ethylene | 852-860 | CFR NEA | No Changes |
| Ethylene | 787-795 | CFR SEA | No Changes |
| Propylene | 793-799 | CFR China | 4 to 6 |
| Propylene | 743-749 | FOB Korea | 4 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)
| Origin | Currency | Offers/ton | Equivalent in USD/ton |
|---|
| Indonesia | IDR | 14,500,000-15,300,000 | 1,005-1,060 |
| Southeast Asia | IDR | 15,200,000 | 1,053 |
| Malaysia | MYR | 4,400*-4,450* | 1,026-1,037 |
| Philippines | PHP | 64,000 | 1,146 |
| Thailand | THB | 35,500-36,000 | 1,147-1,164 |
| Vietnam | VND | 21,600,000** | 924 |
| China | VND | 24,500,000-25,000,000 | 953-972 |
| India | VND | 24,500,000-25,000,000 | 953-972 |
| Saudi | VND | 26,500,000-26,800,000 | 1,030-1,042 |
Description: *Offers on 30 days credit term **Excludes 10% VAT
Import on LC at sight, CIF Southeast Asia main port basis
| Origin | Product | Offers (USD/ton) |
|---|
| Far East Asia | PP Homo Raffia | 1,000 |
| Middle East | PP Homo Raffia | 940-980 |
| Southeast Asia | PP Homo Raffia | 980 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on July 1, 2020 12:24 PM (GMT+8)
Last Updated on July 1, 2020 12:25 PM (GMT+8)
