- A trader based in Thailand reported to SSESSMENTS.COM that local offers for PP Homo Raffia from the trader’s end were adjusted down by THB1,000/ton ($30/ton) as compared to last week’s level. The trader managed to close some deals but only for small volume. Most buyers were only procuring on a hand-to-mouth basis considering the low demand for end-products coupled with the expectation of lower prices.
- From imports, a trader in Vietnam informed SSESSMENTS.COM on receiving offers for PP Homo Raffia of South Korea origin at $830/ton on LC at sight, CIF Vietnam Main Port basis. However, the trader decided not to take the cargoes since there is no inquiry from customers. In terms of demand, the trader stated that the domestic market remains flat this week. Considering the current demand, the trader believes that the chance for import PP prices to decrease further in the upcoming weeks remains high.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 24.74 | June Settlement | -1.61 |
| NYMEX | 20.31 | May Settlement | -0.17 |
| Naphtha | 166 | CFR Japan | -25 |
| Ethylene | 478-484 | CFR NEA | -29 to -31 |
| Ethylene | 448-454 | CFR SEA | -30 |
| Propylene | 593-599 | CFR China | -14 to -16 |
| Propylene | 573-579 | FOB Korea | -14 to -16 |
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 | 14,700,000-15,200,000 | 882-912 |
| Southeast Asia | IDR | 14,700,000-15,200,000 | 882-912 |
| Vietnam | IDR | 14,850,000 | 891 |
| Malaysia | MYR | 3,800*-3,850* | 874-885 |
| Philippines | PHP | 67,000 | 1,173 |
| Thailand | THB | 28,500-29,500 | 862-893 |
| Vietnam | VND | 23,000,000 | 883 |
Description: *Offers on 30 days credit term
Import on LC at sight, CIF Southeast Asia main port basis
| Origin | Product | Offers (USD/ton) |
|---|
| China | PP Homo Raffia | 780 |
| Far East Asia | PP Homo Raffia | 820-880 |
| Middle East | PP Homo Raffia | 770-830 |
| Southeast Asia | PP Homo Raffia | 800-870 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on April 2, 2020 1:06 PM (GMT+8)
Last Updated on April 2, 2020 5:57 PM (GMT+8)
