- Local PS offers from Thai producers were unavailable at the beginning of the month
- Deals for GPPS Injection in Vietnam were concluded at three-digits lower than the initial offers
- PS demand was weak, except in Vietnam in the last week of the month
On a weekly comparison, local PS offers in Southeast Asian countries in April were stable to soft. In Indonesia, local GPPS Injection and HIPS Injection offers via traders were relatively stable week-over week. On April 30, an Indonesian PS producer informed SSESSMENTS.COM that May delivery offers for both GPPS Injection and HIPS Injection decreased by $110/ton on a monthly comparison. In Vietnam, local GPPS Injection offers decreased in the first week of the month between $40-70/ton from levels recorded at the end of March. In the same week, there were no offers from Thai producers due to unsupportive demand. Up to the week commencing April 13, Thai producers’ offers were still unavailable. Meanwhile, GPPS Injection offers from a Vietnamese producer decreased further between $20-30/ton compared to offers in the previous week.
In the week commencing April 13, local GPPS Injection offers from the Vietnamese PS producer were stable at $1,000/ton on cash, FD Vietnam basis and excluding 10% VAT. However, deals were concluded at $120/ton lower than the initial offer level, SSESSMENTS.COM was told. A week later, the producer adjusted down GPPS Injection offers by $20/ton. In the final week of the month, the producer announced that May delivery offers were stable on the low end of price range and $20/ton higher on the high end of the price range as compared to offers in a week earlier. To the export market, a Vietnamese PS producer trimmed GPPS Injection offers on FOB basis between $60-70/ton in the week commencing April 6, increased by $10/ton a week later and maintained stable offers until the end of the month. The changes were on a weekly comparison.
From the import market, in the week commencing April 6, offers for South Korean GPPS and HIPS cargoes via a trader in Indonesia dropped significantly by $120/ton and $80/ton, respectively. A week later, offers for cargoes of this origin to Indonesia remained stable while offers for GPPS Injection from Singapore dropped by $50/ton. In the week commencing April 20, there were no fresh offers from South Korea to Indonesia, but traders expressed sell ideas for South Korean GPPS Injection to SSESSMENTS.COM at $830/ton on LC at sight, CIF Indonesia Main Port basis. In the last week of the month, Vietnamese PS producer concluded deals GPPS Injection at $850/ton on LC at sight, CIF Thailand main port basis, and bids between $800-820/ton on LC at sight, CIF Southeast Asia main port basis were rejected by the producer.
In general, SSESSMENTS.COM noted that demand for PS in the region sagged in April due to lockdown and restriction imposed to contain COVID-19 outbreak. In Malaysia, the PS market was muted due to the Movement Control Order (MCO). The Malaysian government extended MCO twice in April; on April 10 and April 23. On April 10, the MCO was extended to April 28 and on April 23, extended to May 12. During the MCO, most traders did not have permission to run the business, hence, they were unable to deliver customers' orders. Meanwhile, most buyers were reluctant to make purchases because end product sales were unsatisfactory. Automotive sales declined by 50% since the outbreak. Big home appliance manufacturers such as Sharp, Panasonic and LG operating in Indonesia even decided to shut the factory as sales were slow. Most manufacturers in the country were only running at 30-40% from normal rates due to large scale social restriction while some others halted the production activities. A bit of a different situation was seen in Vietnam. After the government lifted lockdown in the country on April 22, demand for PS was reported healthy. No supply issues arose in April.
Looking ahead, market players believe that chances for PS prices in most Southeast Asian countries to move lower are high due to weak demand. On the other hand, the players opined to SSESSMENTS.COM that PS prices in Vietnam will remain stable.
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Range of local/localized PS offers between April 1 to April 3 on cash/credit term on FD basis, excluding VAT in all terms
| origin | Product | Transaction Type | Currency | Offers/ton | Equivalent in USD/ton | Payment Term | Delivery Country |
|---|
| Indonesia | GPPS Injection | Offer Received | IDR | 18,300,000 | 1,212 | 60 Days Credit Term | Indonesia |
| Indonesia | GPPS Injection | Sell Idea | IDR | 17,500,000 | 1,159 | 30 Days Credit Term | Indonesia |
| Thailand | GPPS Injection | Offer Received | IDR | 18,000,000 | 1,192 | 60 Days Credit Term | Indonesia |
| Vietnam | GPPS Injection | Offer Given | USD | 920-930 | - | Cash In Advance | Vietnam |
| Indonesia | HIPS Injection | Offer Received | IDR | 19,300,000 | 1,278 | 60 Days Credit Term | Indonesia |
| Indonesia | HIPS Injection | Sell Idea | IDR | 18,500,000 | 1,225 | 30 Days Credit Term | Indonesia |
| Thailand | HIPS Injection | Offer Received | IDR | 19,550,000 | 1,294 | 60 Days Credit Term | Indonesia |
Range of import PS offers between April 1 to April 3 on LC at sight, CIF Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| Vietnam | GPPS Injection | Offer Given | 920 | Southeast Asia |
| Vietnam | GPPS Injection | Bid Received | 850 | Southeast Asia |
Range of export PS offers between April 1 to April 3 on LC at sight, FOB Vietnam basis
| Origin | Product | Transaction Type | Offers (USD/ton) |
|---|
| Vietnam | GPPS Injection | Offer Given | 900 |
Range of local PS offers between April 6 to April 10 on FD basis, excluding VAT in all terms
| Origin | Product | Transaction Type | Currency | Offers/ton | Equivalent in USD/ton | Payment Term | Delivery Location |
|---|
| Indonesia | GPPS Injection | Offer Given | IDR | 17,000,000 | 1,126 | Cash In Advance | Indonesia |
| Indonesia | GPPS Injection | Offer Given | IDR | 17,500,000 | 1,159 | 30 Days Credit Term | Indonesia |
| Indonesia | GPPS Injection | Offer Received | IDR | 17,000,000 | 1,126 | Cash In Advance | Indonesia |
| Indonesia | GPPS Injection | Offer Received | IDR | 18,300,000 | 1,212 | 60 Days Credit Term | Indonesia |
| Vietnam | GPPS Injection | Offer Given | USD | 1,000 | - | Cash In Advance | Vietnam |
| Indonesia | HIPS Injection | Offer Given | IDR | 18,000,000 | 1,192 | Cash In Advance | Indonesia |
| Indonesia | HIPS Injection | Offer Given | IDR | 18,500,000 | 1,225 | 30 Days Credit Term | Indonesia |
| Indonesia | HIPS Injection | Offer Received | IDR | 19,300,000 | 1,278 | 60 Days Credit Term | Indonesia |
Range of import PS offers between April 6 to April 10 on LC at sight, CIF Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| South Korea | GPPS Injection | Offer Given | 860 | Indonesia |
| Vietnam | GPPS Injection | Sold | 860-870 | Southeast Asia |
| South Korea | HIPS Injection | Offer Given | 1,000 | Indonesia |
Range of export PS offers between April 6 to April 10 on LC at sight, FOB Vietnam basis
| Origin | Product | Transaction Type | Offers (USD/ton) |
|---|
| Vietnam | GPPS Injection | Offer Given | 830-840 |
Range of local PS offers between April 13 to April 17 on FD basis, excluding VAT in all terms
| Origin | Product | Transaction Type | Currency | Offers/ton | Equivalent in USD/ton | Payment Term | Delivery Location |
|---|
| Indonesia | GPPS Injection | Offer Given | IDR | 17,500,000 | 1,159 | 30 Days Credit Term | Indonesia |
| Indonesia | GPPS Injection | Offer Given | IDR | 16,300,000 | 1,079 | Cash In Advance | Indonesia |
| Indonesia | GPPS Injection | Purchased | IDR | 16,800,000 | 1,112 | Cash In Advance | Indonesia |
| Indonesia | GPPS Injection | Offer Given | USD | 1,040-1,080 | - | Cash In Advance | Indonesia |
| Vietnam | GPPS Injection | Offer Given | USD | 1,000 | - | Cash In Advance | Vietnam |
| Vietnam | GPPS Injection | Sold | USD | 880 | - | Cash In Advance | Vietnam |
| Indonesia | HIPS Injection | Offer Given | IDR | 18,500,000 | 1,225 | 30 Days Credit Term | Indonesia |
| Indonesia | HIPS Injection | Offer Given | IDR | 17,300,000 | 1,145 | Cash In Advance | Indonesia |
| Indonesia | HIPS Injection | Offer Given | USD | 1,100-1,140 | - | Cash In Advance | Indonesia |
Range of import PS offers between April 13 to April 17 on LC at sight, CIF Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| Singapore | GPPS Injection | Offer Received | 920 | Indonesia |
| South Korea | GPPS Injection | Offer Given | 860 | Indonesia |
| Vietnam | GPPS Injection | Sold | 860 | Southeast Asia |
| South Korea | HIPS Injection | Offer Received | 1,000 | Indonesia |
Range of export PS offers between April 13 to April 17 on LC at sight, FOB Vietnam basis
| Origin | Product | Transaction Type | Offers (USD/ton) |
|---|
| Vietnam | GPPS Injection | Offer Given | 840 |
Range of local/localized PS offers between April 20 to April 24 on FD basis, excluding VAT in all terms
| Origin | Product | Transaction Type | Currency | Offers/ton | Equivalent in USD/ton | Payment Term | Delivery Country |
|---|
| Indonesia | GPPS Injection | Offer Given | IDR | 16,300,000 | 1,079 | Cash In Advance | Indonesia |
| Indonesia | GPPS Injection | Offer Received | IDR | 17,000,000 | 1,126 | 90 Days Credit Term | Indonesia |
| Indonesia | GPPS Injection | Offer Received | IDR | 17,000,000 | 1,126 | Cash In Advance | Indonesia |
| Indonesia | GPPS Injection | Sold | IDR | 17,500,000 | 1,159 | Cash In Advance | Indonesia |
| Thailand | GPPS Injection | Offer Received | IDR | 17,000,000 | 1,126 | 90 Days Credit Term | Indonesia |
| Vietnam | GPPS Injection | Offer Given | USD | 880 | - | Cash In Advance | Vietnam |
| Indonesia | HIPS Injection | Offer Given | IDR | 17,300,000 | 1,145 | Cash In Advance | Indonesia |
| Indonesia | HIPS Injection | Offer Received | IDR | 18,000,000 | 1,192 | 90 Days Credit Term | Indonesia |
| Indonesia | HIPS Injection | Offer Received | IDR | 18,000,000 | 1,192 | Cash In Advance | Indonesia |
| Thailand | HIPS Injection | Offer Received | IDR | 18,000,000 | 1,192 | 90 Days Credit Term | Indonesia |
Range of import PS offers between April 20 to April 24 on LC at sight, CIF Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| South Korea | GPPS Injection | Sell Idea | 830 | Indonesia |
Range of export PS offers between April 20 to April 24 on LC at sight, FOB Vietnam basis
| Origin | Product | Transaction Type | Offers (USD/ton) |
|---|
| Vietnam | GPPS Injection | Offer Given | 840 |
Range of local PS offers between April 27 to April 30 on cash, FD basis, excluding VAT in all terms
| Origin | Product | Transaction Type | Currency | Offers/ton | Equivalent in USD/ton | Delivery Country |
|---|
| Indonesia | GPPS Injection | Sell Idea | USD | 950-970 | - | Indonesia |
| Indonesia | GPPS Injection | Offer Given | USD | 930-970 | - | Indonesia |
| Indonesia | GPPS Injection | Offer Given | IDR | 16,000,000-16,800,000 | 1,059-1,112 | Indonesia |
| Indonesia | GPPS Injection | Purchased | IDR | 15,000,000 | 993 | Indonesia |
| Vietnam | GPPS Injection | Offer Given | USD | 880-900 | - | Vietnam |
| Indonesia | HIPS Injection | Sell Idea | USD | 1,020-1,040 | - | Indonesia |
| Indonesia | HIPS Injection | Offer Given | USD | 1,000-1,040 | - | Indonesia |
| Indonesia | HIPS Injection | Offer Given | IDR | 17,000,000-17,800,000 | 1,126-1,179 | Indonesia |
| Indonesia | HIPS Injection | Purchased | IDR | 16,000,000 | 1,059 | Indonesia |
Range of import PS offers between April 27 to April 30 on LC at sight, CIF Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| Vietnam | GPPS Injection | Bid Received | 800-820 | Southeast Asia |
| Vietnam | GPPS Injection | Sold | 850 | Thailand |
Range of export PS offers between April 27 to April 30 on LC at sight, FOB Vietnam basis
| Origin | Product | Transaction Type | Offers (USD/ton) |
|---|
| Vietnam | GPPS Injection | Offer Given | 840 |
Tags: Asia Pacific,English,Monthly,SEA,Styrenics
Published on May 6, 2020 6:55 PM (GMT+8)
Last Updated on June 10, 2020 6:14 PM (GMT+8)
