- Local PS offers in Indonesia captured increasing due to Rupiah depreciation
- Demand was generally sluggish during March
- GPPS Injection offers expected to reach below $900/ton-level
On the week commencing March 2, a local producer in Indonesia reduced GPPS Injection and HIPS Injection offers by $40/ton on a monthly comparison. While in Vietnam, a local producer maintained the offers for GPPS Injection stable from a week earlier. On the second week, a trader decided to trim the offers for local GPPS Injection and HIPS Injection cargoes by IDR900,000/ton ($55/ton) due to an inventory pressure and slow demand, while other traders were keeping the offers stable, SSESSMENTS.COM was told. In Vietnam, a PS producer rolled over the offers for GPPS Injection and done deals were captured at the initial offer level. The following week, the offers for local GPPS Injection and HIPS Injection in Indonesia were captured stable. Similarly, local GPPS Injection offers in Vietnam were kept stable as well and there was room for negotiation. Due to the depreciation of Indonesian Rupiah towards the US Dollar, traders in the country increased GPPS Injection and HIPS Injection offers by IDR100,000/ton ($6/ton) in the fourth week of the month. While in Vietnam, the offers for GPPS Injection from a local producer decreased between $10-60/ton depending on the purchasing volume. All price changes from the second week onwards were on a weekly comparison.
In the import market, the month started with offers for Vietnameses GPPS Injection to Southeast Asia decreased between $20-30/ton from the previous week and Philippines buyers were submitting bids at $40/ton lower from the initial offer level. For import South Korean GPPS Injection and HIPS Injection, SSESSMENTS.COM noted that the offers were captured stable to decrease by $80/ton on a weekly comparison during March. For sellers that kept stable offers, sources added that the offers were negotiable up to $40/ton lower from the initial offer level. To the export market, a Vietnamese producer also reduced export GPPS Injection offers on FOB basis between $20-50/ton also on a weekly comparison during the month.
During the first week of month, SSESSMENTS.COM was told that PS demand in the region showed a mixed performance. In Vietnam, the demand in the domestic market was recorded stable while in Malaysia and Indonesia recorded a slow down due to Coronavirus issues. However, the remaining three weeks in March, the demand across Southeast Asia reported sluggish affected by plunge in crude oil prices, Coronavirus pandemic as well as market uncertainty. On the supply side, there were no issues reported during March in Southeast Asia.
For the outlook, market players predict that PS prices will decrease further in the days to come considering the continuous decrement in SM prices. At the beginning of March, SM prices on CFR China basis captured at $809-813/ton and by March 31, the offers recorded with a hefty decrease standing at $519-523/ton. Market players opined to SSESSMENTS.COM that it is possible for GPPS Injection offers to reach below $900/ton-level in the near term.
Transaction for local/localized PS between March 2 to March 6, 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 | 17,700,000 | 1,082 | Cash In Advance | Indonesia |
| Indonesia | GPPS Injection | Offer Received | USD | 1,180 | - | Cash In Advance | Indonesia |
| Indonesia | GPPS Injection | Sold | IDR | 16,500,000-17,000,000 | 1,009-1,039 | Cash In Advance | Indonesia |
| Indonesia | GPPS Injection | Offer Given | IDR | 17,000,000 | 1,039 | 30 Days Credit Term | Indonesia |
| Indonesia | GPPS Injection | Offer Received | IDR | 17,700,000 | 1,082 | 30 Days Credit Term | Indonesia |
| Indonesia | GPPS Injection | Purchased | IDR | 16,400,000 | 1,003 | 30 Days Credit Term | Indonesia |
| Southeast Asia | GPPS Injection | Offer Given | IDR | 17,000,000-17,500,000 | 1,039-1,070 | Cash In Advance | Indonesia |
| Southeast Asia | GPPS Injection | Offer Received | IDR | 16,700,000 | 1,021 | Cash In Advance | Indonesia |
| Southeast Asia | GPPS Injection | Offer Received | IDR | 18,000,000 | 1,101 | 30 Days Credit Term | Indonesia |
| Thailand | GPPS Injection | Offer Received | IDR | 17,400,000 | 1,064 | 60 Days Credit Term | Indonesia |
| Vietnam | GPPS Injection | Offer Given | USD | 1,080 | - | Cash In Advance | Vietnam |
| Indonesia | HIPS Injection | Offer Given | IDR | 18,700,000 | 1,143 | Cash In Advance | Indonesia |
| Indonesia | HIPS Injection | Offer Received | USD | 1,250 | - | Cash In Advance | Indonesia |
| Indonesia | HIPS Injection | Sold | IDR | 17,500,000-18,000,000 | 1,070-1,101 | Cash In Advance | Indonesia |
| Indonesia | HIPS Injection | Offer Given | IDR | 18,000,000 | 1,101 | 30 Days Credit Term | Indonesia |
| Indonesia | HIPS Injection | Purchased | IDR | 17,400,000 | 1,064 | 30 Days Credit Term | Indonesia |
| Southeast Asia | HIPS Injection | Offer Received | IDR | 17,700,000 | 1,082 | Cash In Advance | Indonesia |
| Thailand | HIPS Injection | Offer Received | IDR | 18,200,000 | 1,113 | 60 Days Credit Term | Indonesia |
Transaction for import PS between March 2 to March 6 on LC at sight, CIF Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| South Korea | GPPS Injection | Offer Given | 1,050 | Indonesia |
| Taiwan | GPPS Injection | Offer Given | 1,020-1,030 | Vietnam |
| Taiwan | GPPS Injection | Offer Given | 1,050-1,060 | Malaysia |
| Vietnam | GPPS Injection | Bid Received | 1,000 | Philippines |
| Vietnam | GPPS Injection | Offer Given | 1,030-1,040 | Southeast Asia |
| Vietnam | GPPS Injection | Sold | 1,040 | Indonesia |
| South Korea | HIPS Injection | Offer Given | 1,150 | Indonesia |
| Taiwan | HIPS Injection | Offer Given | 1,100-1,110 | Vietnam |
| Taiwan | HIPS Injection | Offer Given | 1,130-1,140 | Malaysia |
Transaction for export PS between March 2 to March 6 on LC at sight, FOB basis
| Origin | Product | Transaction Type | Offers (USD/ton) |
|---|
| Vietnam | GPPS Injection | Offer Given | 1,020 |
Transaction for local PS between March 9 to March 13, FD basis, excluding VAT in all terms
| Origin | Product | Transaction Type | Currency | Offers (IDR/ton) | Equivalent in USD/ton | Payment Term | Delivery Location |
|---|
| Indonesia | GPPS Injection | Offer Given | IDR | 16,500,000-17,500,000 | 1,009-1,070 | Cash In Advance | Indonesia |
| Indonesia | GPPS Injection | Offer Received | IDR | 16,500,000-17,000,000 | 1,009-1,039 | 30 Days Credit Term | Indonesia |
| Indonesia | GPPS Injection | Purchased | IDR | 16,700,000 | 1,021 | Cash In Advance | Indonesia |
| Indonesia | GPPS Injection | Sold | IDR | 17,000,000 | 1,039 | Cash In Advance | Indonesia |
| Indonesia | GPPS Injection | Offer Received | IDR | 17,000,000 | 1,039 | 30 Days Credit Term | Indonesia |
| Vietnam | GPPS Injection | Offer Given | USD | 1,080 | - | LC at sight | Vietnam |
| Indonesia | HIPS Injection | Offer Given | IDR | 17,500,000-18,000,000 | 1,070-1,101 | Cash In Advance | Indonesia |
| Indonesia | HIPS Injection | Offer Received | IDR | 17,500,000-18,000,000 | 1,070-1,101 | 30 Days Credit Term | Indonesia |
| Indonesia | HIPS Injection | Purchased | IDR | 17,700,000 | 1,082 | Cash In Advance | Indonesia |
| Indonesia | HIPS Injection | Sold | IDR | 18,000,000 | 1,101 | Cash In Advance | Indonesia |
Transaction for import PS between March 9 to March 13 on LC at sight, CIF Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Countries |
|---|
| South Korea | GPPS Injection | Offer Given | 1,050 | Indonesia |
| Thailand | GPPS Injection | Offer Received | 1,090 | Philippines |
| Vietnam | GPPS Injection | Offer Given | 1,010-1,020 | Southeast Asia |
| South Korea | HIPS Injection | Offer Given | 1,150 | Indonesia |
| Thailand | HIPS Injection | Offer Received | 1,190 | Philippines |
Transaction for export PS between March 9 to March 13 on LC at sight, FOB basis
| Origin | Product | Transaction Type | Offers (USD/ton) |
|---|
| Vietnam | GPPS Injection | Offer Given | 1,000 |
Transaction for local PS between March 16 to March 20, FD basis, excluding VAT in all terms
| Origin | Product | Transaction Type | Currency | Offers/ton | Equivalent in USD/ton | Payment Term | Delivery City |
|---|
| Indonesia | GPPS Injection | Offer Given | IDR | 17,000,000-17,500,000 | 1,039-1,070 | Cash In Advance | Indonesia |
| Indonesia | GPPS Injection | Purchased | IDR | 16,700,000-16,900,000 | 1,021-1,033 | Cash In Advance | Indonesia |
| Indonesia | GPPS Injection | Sold | IDR | 17,000,000 | 1,039 | Cash In Advance | Indonesia |
| Indonesia | GPPS Injection | Purchased | IDR | 17,000,000 | 1,039 | 30 Days Credit Term | Indonesia |
| Vietnam | GPPS Injection | Offer Given | USD | 1,010-1,020 | - | Cash In Advance | Vietnam |
| Indonesia | HIPS Injection | Offer Given | IDR | 18,000,000-18,500,000 | 1,101-1,131 | Cash In Advance | Indonesia |
| Indonesia | HIPS Injection | Purchased | IDR | 17,700,000-17,900,000 | 1,082-1,095 | Cash In Advance | Indonesia |
| Indonesia | HIPS Injection | Sold | IDR | 18,000,000 | 1,101 | Cash In Advance | Indonesia |
Transaction for import PS between March 16 to March 20 on LC at sight, CIF Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| South Korea | GPPS Injection | Offer Given | 980 | Indonesia |
| South Korea | GPPS Injection | Price List | 1,060 | Indonesia |
| Taiwan | GPPS Injection | Offer Received | 1,280 | Malaysia |
| Taiwan | GPPS Injection | Offer Given | 980-990 | Vietnam |
| Vietnam | GPPS Injection | Offer Given | 1,000 | Southeast Asia |
| South Korea | HIPS Injection | Offer Given | 1,080 | Indonesia |
| South Korea | HIPS Injection | Price List | 1,160 | Indonesia |
| Taiwan | HIPS Injection | Offer Given | 1,060-1,070 | Vietnam |
Transaction for export PS between March 16 to March 20 on LC at sight, FOB basis
| Origin | Product | Transaction Type | Offers (USD/ton) |
|---|
| Vietnam | GPPS Injection | Offer Given | 980 |
| Vietnam | GPPS Injection | Bid Received | 920 |
| Vietnam | GPPS Injection | Sold | 980 |
Transaction for local PS between March 23 to March 27, FD basis, excluding VAT in all terms
| Origin | Product | Transaction Type | Currency | Offers/ton | Equivalent in USD/ton | Payment Term | Delivery City |
|---|
| Indonesia | GPPS Injection | Offer Given | IDR | 17,500,000 | 1,070 | Cash In Advance | Indonesia |
| Indonesia | GPPS Injection | Offer Given | USD | 1,040-1,080 | - | Cash In Advance | Indonesia |
| Indonesia | GPPS Injection | Offer Received | IDR | 17,000,000 | 1,039 | Cash In Advance | Indonesia |
| Indonesia | GPPS Injection | Offer Given | USD | 1,040 | - | 30 Days Credit Term | Indonesia |
| Vietnam | GPPS Injection | Offer Given | USD | 960-1,000 | - | Cash In Advance | Vietnam |
| Vietnam | GPPS Injection | Sold | USD | 960-1,000 | - | Cash In Advance | Vietnam |
| Indonesia | HIPS Injection | Offer Given | IDR | 18,500,000 | 1,131 | Cash In Advance | Indonesia |
| Indonesia | HIPS Injection | Offer Given | USD | 1,100-1,140 | - | Cash In Advance | Indonesia |
| Indonesia | HIPS Injection | Offer Received | IDR | 18,000,000 | 1,001 | Cash In Advance | Indonesia |
| Indonesia | HIPS Injection | Offer Given | USD | 1,100 | - | 30 Days Credit Term | Indonesia |
Transaction for import PS between March 23 to March 27 on LC at sight
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Term | Delivery Country |
|---|
| Singapore | GPPS Injection | Bid Given | 650 | DAP | Malaysia |
| Taiwan | GPPS Injection | Offer Given | 930-940 | CIF | Vietnam |
| Vietnam | GPPS Injection | Offer Given | 970 | CIF | Southeast Asia |
| Taiwan | HIPS Injection | Offer Given | 1,000-1,010 | CIF | Vietnam |
Transaction for export PS between March 23 to March 27 on LC at sight, FOB basis
| Origin | Product | Transaction Type | Offers (USD/ton) |
|---|
| Vietnam | GPPS Injection | Offer Given | 900-950 |
| Vietnam | GPPS Injection | Sold | 900-950 |
Transaction for local PS between March 30 to March 31 on 30 days credit term, FD basis, excluding VAT in all terms
| Origin | Product | Transaction Type | Offers (IDR/ton) | Equivalent in USD/ton | Delivery Location |
|---|
| Indonesia | GPPS Injection | Offer Given | 17,500,000 | 1,070 | Indonesia |
| Indonesia | HIPS Injection | Offer Given | 18,500,000 | 1,131 | Indonesia |
Transaction for import PS between March 30 to March 31 on LC at sight, CIF Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| South Korea | GPPS Injection | Offer Given | 980 | Indonesia |
| South Korea | GPPS Injection | Offer Received | 1,050 | Indonesia |
| South Korea | HIPS Injection | Offer Given | 1,080 | Indonesia |
| South Korea | HIPS Injection | Offer Received | 1,100 | Indonesia |
Tags: Asia Pacific,English,Monthly,SEA,Styrenics
Published on April 1, 2020 7:21 PM (GMT+8)
Last Updated on April 1, 2020 7:21 PM (GMT+8)
