- An Indonesian PP producer informed SSESSMENTS.COM that this week’s offers for PP Homo Raffia from the company’s end were hiked following the upward adjustment made by the leading polyolefins producer in the country; which is by IDR150,000/ton ($21/ton) on a weekly comparison. Last week, demand for PP resins was quite satisfactory because the leading polyolefins producer updated their price list on Wednesday and Friday, the producer assumed. Besides, at that time, most converters were having low inventory on their end. However, this week, the demand is weakening as most converters have finished with the replenishment activities and most of them are now preferring to wait on the sidelines due to Rupiah depreciation. For the outlook, the producer believes that local PP prices will remain stable in the near future as a significant increment already seen in May, while the actual demand for finished products has yet to show notable improvement.
- Whereas in Vietnam, a trader reported to SSESSMENTS.COM on maintaining stable offers for localized Saudi PP Homo Raffia from last week’s level. The offers are available at VND26,500,000/ton ($1,142/ton) on cash, FD Vietnam basis and including 10% VAT. To date, the trader is still unable to conclude any deal despite the business sector in the country is considered quite good. In the days to come, the trader believes that PP prices are likely to follow feedstock price movements, particularly for import offers.
