- An Indonesian PP producer contacted by SSESSMENTS.COM informed that the company applied an upward adjustment on local PP Homo Raffia offers for this week following the pricing strategy made by the leading polyolefins producer. Compared to last week, the producer’s current offers are IDR400,000/ton ($28/ton) higher, available at IDR15,000,000 ($1,058/ton) on 15 days credit term, FD Indonesia basis and excluding 10% VAT. However, responses from buyers are not that positive as most anticipate prices to move lower in the near future. For the outlook, the producer opined that firm PP prices might sustain until August as supported by the limited supply.
- A Vietnamese converter revealed on receiving a high import PP Homo Raffia offers from the leading Saudi polyolefins producer. As informed to SSESSMENTS.COM, the converter received offers from the producer at $1,000/ton on LC at sight, CIF Vietnam Main Port basis, hence, did not proceed with procurement as the offers is deemed too high. Demand-wise, sales for their finished products remain steady since demand from export market still exists, even though it cannot be considered as strong yet.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 40.31 | August Settlement | -2.32 |
| NYMEX | 38.01 | August Settlement | -2.36 |
| Naphtha | 359 | CFR Japan | -4 |
| Ethylene | 837-845 | CFR NEA | No Changes |
| Ethylene | 787-795 | CFR SEA | No Changes |
| Propylene | 782-790 | CFR China | No Changes |
| Propylene | 737-745 | 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 | 14,600,000-15,500,000* | 1,030-1,093 |
| Southeast Asia | IDR | 14,300,000-14,800,000 | 1,009-1,044 |
| Malaysia | MYR | 4,080*-4,130* | 954-965 |
| Philippines | PHP | 61,000 | 1,087 |
| Thailand | THB | 35,000-35,500 | 1,132-1,149 |
| Vietnam | VND | 24,300,000-26,300,000 | 946-1,024 |
| Saudi | VND | 25,500,000-26,000,000 | 993-1,012 |
| South Korea | VND | 25,500,000 | 993 |
| Thailand | VND | 27,600,000 | 1,074 |
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 | 940 |
| Indian Subcontinent | PP Homo Raffia | 930 |
| Middle East | PP Homo Raffia | 930-1,000 |
| Southeast Asia | PP Homo Raffia | 1,050 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on June 25, 2020 11:34 AM (GMT+8)
Last Updated on June 25, 2020 11:55 AM (GMT+8)
