- An Indonesian converter reported to SSESSMENTS.COM that the company decided to purchase PP Homo Raffia cargoes from a local producer at IDR13,700,000/ton ($930/ton) on cash, FD Indonesia basis, and excluding 10% VAT with the number of purchase of 140 tons. The converter stated that the company’s monthly production needs for PP Homo Raffia decreased around 80-180 tons as the finished product demand has been affected by the Coronavirus pandemic. The converter added that there are still some orders coming in for flour packaging and harvest preparation.
- A Thai trader commented to SSESSMENTS.COM following the upwards adjustment made by the local producers for PP Homo Raffia cargoes this week. The trader opined that the increases were made by the producer in order to stimulate the market sentiment. However, buyers’ buy idea for local PP Homo Raffia cargoes is still much lower compared to the offer level available this week.
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| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 35.75 | July Settlement | 1.10 |
| NYMEX | 33.49 | June Settlement | 1.53 |
| Naphtha | 266 | CFR Japan | 7 |
| Ethylene | 612-620 | CFR NEA | 9 to 11 |
| Ethylene | 552-560 | CFR SEA | 14 to 16 |
| Propylene | 768-774 | CFR China | No Changes |
| Propylene | 718-724 | FOB Korea | No Changes |
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 | 13,700,000-14,000,000 | 930-950 |
| Southeast Asia | IDR | 13,500,000 | 917 |
| Malaysia | MYR | 3,800*-3,850* | 873-884 |
| Philippines | PHP | 67,000 | 1,180 |
| Thailand | THB | 29,000-29,500 | 910-925 |
| Vietnam | VND | 22,000,000-23,500,000 | 853-911 |
| Saudi Arabia | VND | 24,000,000 | 930 |
| Thailand | VND | 23,800,000-24,000,000 | 923-930 |
Description: *Offers on 30 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 | 850 |
| Indian Subcontinent | PP Homo Raffia | 800-820 |
| Middle East | PP Homo Raffia | 780-840 |
| Southeast Asia | PP Homo Raffia | 850-915 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on May 21, 2020 12:01 PM (GMT+8)
Last Updated on May 21, 2020 12:01 PM (GMT+8)
