- A Thailand-based trader provided details to SSESSMENTS.COM on the latest PP market updates. According to the trader, Thailand's government plans to invoke an emergency decree on March 26, to impose stricter measures to control the Coronavirus outbreak. The emergency decree will pave the way for government orders, including censoring media, curfews, and the potential restriction of domestic travel. The trader noted that this situation will have a more negative effect on the logistics industry. In terms of prices, the trader opted to roll over offers for local PP Homo Raffia cargoes from a week earlier. The latest offers from the trader are available at THB30,500/ton ($928/ton) on cash, FD Thailand basis and excluding 7% VAT, with some deals achieved at the initial offer level.
- Whereas in Vietnam, a local trader adjusted down local PP offers due to sluggish demand. As compared to last week’s level, the trader applied a hefty reduction of VND1,000,000/ton ($42.6/ton) for local PP Homo Raffia cargoes despite the depreciation of Vietnamese Dong against the greenback. The latest offers from the trader surfaced in the market at VND23,500,000/ton ($1,002/ton) on cash, FD Vietnam basis and including 10% VAT.
