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DailySSESSMENTS: SEA PP Price 8th July 2020

Author: SSESSMENTS

- A trader based in the Philippines reported to SSESSMENTS.COM on the latest offers for PP Homo Raffia in the local market. This week, local offers for PP Homo Raffia from a local producer are available at PHP64,000/ton ($1,291/ton) on cash, FD Philippines basis and including 12% VAT. On a weekly comparison, the producer decided to maintain the offers at a stable level. 

- Meanwhile, a regional trader contacted by SSESSMENTS.COM stated that the company already obtains allocations for PP Homopolymer grades from a Vietnamese producer. No further detail from the producer regarding the exact quantity but the trader assumed that the allocation would be enough. Upon obtaining the allocations, the trader immediately announced their offers for PP Homo Raffia of Vietnam origin at $1,000/ton on LC at sight, CFR Indonesia Main Port basis and the shipment would be in late July to early August. Since the offers just released on Tuesday evening, July 7, the trader has yet to receive any feedback from their customers. Considering the current market sentiment, the trader believes that buyers will likely submit bids lower from the initial offer level. At the moment, the trader has no sell ideas yet, but will provide room for negotiation and deals will depend on the bid and the volume of purchases.

ProductPrice (USD)TermsChanges From Previous Trading Day (USD)
Brent43.08September Settlement-0.02
NYMEX40.62August Settlement-0.01
Naphtha395CFR Japan1
Ethylene837-845CFR NEA-9 to -11
Ethylene767-775CFR SEA-9 to -11
Propylene812-820CFR China5
Propylene762-770FOB Korea5

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)

OriginCurrencyOffers/tonEquivalent in USD/ton
IndonesiaIDR14,700,000-15,750,0001,018-1,091
Southeast AsiaIDR15,700,000*1,087
MalaysiaMYR4,400*-4,450*1,028-1,040
PhilippinesPHP64,0001,153
ThailandTHB34,000-36,000*1,137-1,153
VietnamVND25,000,000-25,500,000976-994
SaudiVND25,500,000-26,500,000994-1,033
ThailandVND26,200,000-26,500,0001,022-1,033
Description: *Offers on 30 days credit term

Import on LC at sight, CIF/CFR Southeast Asia main port basis

OriginProductOffers (USD/ton)
Far East AsiaPP Homo Raffia970-980
Indian SubcontinentPP Homo Raffia925-960
Middle EastPP Homo Raffia920-970
Southeast AsiaPP Homo Raffia980-1,000

Tags: Asia Pacific,Daily,English,PP,SEA

Published on July 8, 2020 11:59 AM (GMT+8)
Last Updated on July 10, 2020 11:58 AM (GMT+8)