- A regional trader unveiled to SSESSMENTS.COM that the company managed to sell PP Homo Raffia of Vietnam origin to Indonesia and the Philippines market at $990/ton on LC at sight, CIF basis. Since last week, the trader has sold 15-20 containers to those markets. However, the trader is pessimistic that buying sentiment for PP Homo Raffia will sustain. Demand from the Philippines market will be absent in the near time on the back of sufficient inventory on-hand. In the Indonesia market, the source opined that the deals should be concluded at a higher level, but demand in the country is not supporting any high prices.
- Whereas in Indonesia, a converter contacted by SSESSMENTS.COM revealed that the biggest local trading house is offering localized PP Homo Raffia of Southeast Asia origin at IDR13,900,000/ton ($953/ton) on cash, FD basis and excluding 10% VAT for minimum purchases of 300 tons. Further added by the converter, at the moment the company prefers to digest inventory on-hand while closely monitoring the market.
| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 43.75 | September Settlement | 0.53 |
| NYMEX | 41.27 | September Settlement | 0.23 |
| Naphtha | 393 | CFR Japan | No Changes |
| Ethylene | 798-804 | CFR NEA | No Changes |
| Ethylene | 712-720 | CFR SEA | No Changes |
| Propylene | 818-824 | CFR China | No Changes |
| Propylene | 778-784 | 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 | 14,000,000-15,250,000*** | 960-1,046 |
| Malaysia | IDR | 14,800,000 | 1,015 |
| Southeast Asia | IDR | 13,900,000 | 953 |
| Malaysia | MYR | 4,550* | 1,070 |
| Philippines | PHP | 64,000-65,000 | 1,160-1,178 |
| Thailand | THB | 32,500-33,000 | 1,030-1,046 |
| China | VND | 25,600,000** | 1,002 |
| India | VND | 25,600,000** | 1,002 |
| Saudi | VND | 26,200,000**-26,800,000 | 1,026-1,049 |
| Vietnam | VND | 24,420,000 | 956 |
Description: *Offers on 30 days credit term **Offers on EXW basis ***Offers on 15 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 | 960 |
| Indian Subcontinent | PP Homo Raffia | 940 |
| Middle East | PP Homo Raffia | 950-990 |
| Southeast Asia | PP Homo Raffia | 990-1,050 |
Tags: Asia Pacific,Daily,English,PP,SEA
Published on July 30, 2020 11:38 AM (GMT+8)
Last Updated on July 30, 2020 12:33 PM (GMT+8)
