- Price trend in June trailed market mood
- Finished product demand not yet recovered
- Pricing outlook cautious with coronavirus development
With softer price movement, SSESSMENTS.COM noted that demand recorded stable in Southeast Asia PS market. Most Indonesian traders and local producers opted to keep the offer stable for GPPS Injection and HIPS Injection until mid-June. Then, on the week commencing June 22, local PS offers down between IDR 300,000-700,000/ton ($/ton) depending on grades following slow PS demand in the country. Market sources told that HIPS Injection for June delivery and July shipment allocation has been sold out in Malaysia on the week of June 15 with offers between $970-1,000/ton-level. Vietnamese producers only offer GPPS to regular customers with limited quantities at $20-30/ton higher on weekly comparison. Finally, the Thailand market recorded fresh local offers at THB34,000/ton ($ /ton) on the final day of June after going flat across the month. From the import market, South Korean PS cargoes going into Southeast Asia underwent a rollercoaster trend throughout June and ended with an increase of $10/ton for GPPS Injection, while HIPS Injection rose $20/ton compared to its level at the beginning of the month. Import transactions remain limited as local PS prices are considered to be more competitive and market participants have already acquired a large volume of import cargoes in the previous months. Despite one of the Taiwanese PS producers halted their production for GPPS Injection and some grade for HIPS Injection, the company is still selling remaining stock to the Southeast Asia market. Offers for GPPS Injection reported stable, while HIPS Injection recorded up by $50/ton as compared to May shipment offers. The producer also continues to raise HIPS Injection offers by $30/ton for July shipment offers, which according to market players is not matching the current sluggish demand.
Vietnam has become a leading country that has begun to recover their PS resin demand after being able to deal with a coronavirus outbreak in the country while the overall Southeast Asian market has been slow. Food and beverage packaging materials are still being most sought for end-product demand, while particular sectors such as automotive and electrical home appliances have not yet recovered. Likewise, most manufacturers in Indonesia were only running at 40% from the maximum capacity and the buying quantity was only at 30% from the normal volume as end-product only started to come back after implementation of new normal transitions imposed in Jakarta and surrounding areas. Market players contacted by SSESSMENTS.COM informed that the availability of domestic and imported PS cargoes remain sufficient at the moment, no significant issues reported.
For the outlook, market players shared with SSESSMENTS.COM that local and imported PS prices will be stable in the upcoming weeks in line with stable SM prices. As for demand, buyers remain cautious amid uncertainties in the market due to the fear of the second wave of coronavirus outbreak.
Range of local/localized PS offers between June 1 to June 5 on cash/credit term, 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 | USD | 980-1,030 | - | Cash In Advance | Indonesia |
| Indonesia | GPPS Injection | Offer Given | IDR | 14,900,000 | 1,034 | Cash In Advance | Indonesia |
| Indonesia | GPPS Injection | Offer Received | IDR | 15,600,000 | 1,082 | 90 Days Credit Term | Indonesia |
| Thailand | GPPS Injection | Offer Received | IDR | 15,900,000 | 1,103 | 90 Days Credit Term | Indonesia |
| Indonesia | GPPS Injection | Purchased | IDR | 14,900,000 | 1,034 | Cash In Advance | Indonesia |
| Indonesia | GPPS Injection | Purchased | IDR | 14,000,000 | 971 | 30 Days Credit Term | Indonesia |
| Indonesia | GPPS Injection | Sold | USD | 980 | - | Cash In Advance | Indonesia |
| Indonesia | HIPS Injection | Offer Given | USD | 1,150-1,195 | - | Cash In Advance | Indonesia |
| Indonesia | HIPS Injection | Offer Given | IDR | 15,900,000 | 1,103 | Cash In Advance | Indonesia |
| Indonesia | HIPS Injection | Offer Received | IDR | 16,600,000 | 1,152 | 90 Days Credit Term | Indonesia |
| Thailand | HIPS Injection | Offer Received | IDR | 16,700,000 | 1,1,59 | 90 Days Credit Term | Indonesia |
| Indonesia | HIPS Injection | Purchased | IDR | 15,900,000 | 1,103 | Cash In Advance | Indonesia |
| Indonesia | HIPS Injection | Sold | USD | 1,150-1,155 | - | Cash In Advance | Indonesia |
Range of import PS offers between June 1 to June 5 on LC at sight, CIF Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| Far East Asia | GPPS Injection | Offer Given | 870-900 | Southeast Asia |
| Far East Asia | GPPS Injection | Offer Received | 865-920 | Vietnam |
| Far East Asia | HIPS Injection | Offer Given | 970-1,000 | Southeast Asia |
| Far East Asia | HIPS Injection | Offer Received | 965-1,000 | Vietnam |
| Southeast Asia | HIPS Injection | Offer Given | 970-1,000 | Southeast Asia |
Range of local/localized PS offers between June 8 to June 12 on cash/credit term, 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 | 14,500,000-15,000,000 | 1,006-1,041 | Cash In Advance | Indonesia |
| Vietnam | GPPS Injection | Offer Given | USD | 910-920 | - | Cash In Advance | Vietnam |
| Indonesia | GPPS Injection | Purchased | IDR | 16,000,000 | 1,110 | 30 Days Credit Term | Indonesia |
| Indonesia | HIPS Injection | Offer Given | IDR | 15,500,000-16,500,000 | 1,075-1,145 | Cash In Advance | Indonesia |
| Malaysia | HIPS Injection | Offer Given | USD | 970-1,000 | - | Cash In Advance | Malaysia |
Range of import PS offers between June 8 to June 12 on LC at sight, CIF/FOB Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Term | Delivery Country |
|---|
| Far East Asia | GPPS Injection | Offer Received | 910-940 | CIF | Vietnam |
| Southeast Asia | GPPS Injection | Offer Given | 900 | CIF | Southeast Asia |
| Southeast Asia | GPPS Injection | Offer Given | 900 | FOB | Vietnam |
| Southeast Asia | GPPS Injection | Offer Received | 980 | CIF | Vietnam |
| Far East Asia | HIPS Injection | Offer Received | 1,010-1,050 | CIF | Vietnam |
| Southeast Asia | HIPS Injection | Offer Given | 970-1,000 | CIF | Southeast Asia |
| Southeast Asia | HIPS Injection | Offer Received | 1,060 | CIF | Vietnam |
Range of local/localized PS offers between June 15 to June 19 on cash/credit term, FD basis (including 10% VAT in VND term, all equivalent in USD excluding VAT)
| Origin | Product | Transaction Type | Currency | Offers/ton | Equivalent in USD/ton | Payment Term | Delivery Country |
|---|
| Indonesia | GPPS Injection | Offer Given | IDR | 15,000,000 | 1,041 | 30 Days Credit Term | Indonesia |
| Indonesia | GPPS Injection | Offer Given | IDR | 14,300,000-15,700,000 | 992-1,089 | Cash In Advance | Indonesia |
| Indonesia | GPPS Injection | Offer Received | IDR | 15,700,000 | 1,089 | 90 Days Credit Term | Indonesia |
| Taiwan | GPPS Injection | Offer Given | VND | 30,000,000 | 1,166 | Cash In Advance | Vietnam |
| Thailand | GPPS Injection | Offer Given | VND | 28,000,000 | 1,089 | Cash In Advance | Vietnam |
| Vietnam | GPPS Injection | Sold | USD | 920 | - | Cash In Advance | Vietnam |
| Indonesia | HIPS Injection | Offer Given | IDR | 16,000,000 | 1,110 | 30 Days Credit Term | Indonesia |
| Indonesia | HIPS Injection | Offer Given | IDR | 15,300,000-16,700,000 | 1,062-1,159 | Cash In Advance | Indonesia |
| Indonesia | HIPS Injection | Offer Received | IDR | 16,700,000 | 1,159 | 90 Days Credit Term | Indonesia |
| Taiwan | HIPS Injection | Offer Given | VND | 33,000,000 | 1,283 | Cash In Advance | Vietnam |
| Thailand | HIPS Injection | Offer Given | VND | 31,000,000 | 1,205 | Cash In Advance | Vietnam |
Range of import PS offers between June 15 to June 19 on LC at sight, CIF Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| Far East Asia | GPPS Injection | Offer Received | 970 | Vietnam |
| Far East Asia | GPPS Injection | Offer Received | 1,250 | Malaysia |
| Southeast Asia | GPPS Injection | Offer Received | 1,000 | Vietnam |
| Far East Asia | HIPS Injection | Offer Received | 1,050 | Vietnam |
| Far East Asia | HIPS Injection | Offer Received | 1,280 | Malaysia |
Range of export PS offers between June 15 to June 19 on LC at sight, FOB Vietnam basis
| Origin | Product | Transaction Type | Offers (USD/ton) |
|---|
| Vietnam | GPPS Injection | Sell Idea | 920 |
Range of local/localized PS offers between June 22 to June 26 on cash/credit term, FD basis (including 10% VAT in VND term, all equivalent in USD excluding VAT)
| Origin | Product | Transaction Type | Currency | Offers/ton | Equivalent in USD/ton | Payment Term | Delivery Country |
|---|
| Indonesia | GPPS Injection | Offer Given | IDR | 14,000,000-15,000,000 | 971-1,041 | Cash In Advance | Indonesia |
| Indonesia | GPPS Injection | Offer Given | USD | 1,020-1,070 | - | Cash In Advance | Indonesia |
| Indonesia | GPPS Injection | Offer Received | IDR | 15,000,000 | 1,041 | 90 Days Credit Term | Indonesia |
| Taiwan | GPPS Injection | Offer Given | VND | 30,000,000 | 1,166 | Cash In Advance | Vietnam |
| Thailand | GPPS Injection | Offer Given | VND | 28,000,000 | 1,089 | Cash In Advance | Vietnam |
| Vietnam | GPPS Injection | Offer Given | USD | 950 | - | Cash In Advance | Vietnam |
| Vietnam | GPPS Injection | Sold | USD | 950 | - | Cash In Advance | Vietnam |
| Indonesia | HIPS Injection | Offer Given | IDR | 15,000,000-16,000,000 | 1,041-1,110 | Cash In Advance | Indonesia |
| Indonesia | HIPS Injection | Offer Given | USD | 1,090-1,170 | - | Cash In Advance | Indonesia |
| Indonesia | HIPS Injection | Offer Received | IDR | 16,000,000 | 1,110 | 90 Days Credit Term | Indonesia |
| Taiwan | HIPS Injection | Offer Given | VND | 33,000,000 | 1,283 | Cash In Advance | Vietnam |
| Thailand | HIPS Injection | Offer Given | VND | 31,000,000 | 1,205 | Cash In Advance | Vietnam |
Range of import PS offers between June 22 to June 26 on LC at sight, CIF Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| Far East Asia* | GPPS Injection | Offer Given | 920 | Indonesia |
| Far East Asia** | GPPS Injection | Offer Received | 930 | Vietnam |
| Far East Asia* | HIPS Injection | Offer Given | 1,020 | Indonesia |
| Far East Asia** | HIPS Injection | Offer Received | 1,020 | Vietnam |
Description: *July shipment offers; **August shipment offers
Range of export PS offers between June 22 to June 26 on LC at sight, FOB Vietnam basis
| Origin | Product | Transaction Type | Offers (USD/ton) |
|---|
| Vietnam | GPPS Injection | Offer Given | 920 |
Range of local/localized PS offers between June 29 to June 30 on cash, FD basis, excluding VAT in all terms
| Origin | Product | Transaction Type | Currency | Offers/ton | Equivalent in USD/ton | Delivery Country |
|---|
| Thailand | GPPS Injection | Offer Received | THB | 34,000 | 1,095 | Thailand |
Range of import PS offers between June 29 to June 30 on LC at sight, CIF Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| Far East Asia* | GPPS Injection | Offer Given | 920 | Indonesia |
| Southeast Asia | GPPS Injection | Offer Received | 980-1,000 | Indonesia |
| Far East Asia* | HIPS Injection | Offer Given | 1,020 | Indonesia |
Description: *July shipment offers
Tags: Asia Pacific,English,Monthly,SEA,Styrenics
Published on July 2, 2020 4:27 PM (GMT+8)
Last Updated on July 2, 2020 4:27 PM (GMT+8)
