- As contacted by SSESSMENTS.COM, a Middle Eastern producer addresses demand conditions in the Southeast Asia market last week. As informed, overall demand in the region was rather flat last week, with limited spot trades taking place particularly for PP Homo Raffia. However, for PP Copolymer grades, most market players were more willing to accept a high price level amid limited offers. For the outlook, the producer believes that there would be no room for import PP Homo Raffia prices of Middle East origin to move lower in the days to come on the back of supply shortage, even though offers from certain origin were revised down.
- Whereas in Indonesia, market sources revealed to SSESSMENTS.COM that the leading polyolefins producer in the country has announced a fresh price list for the week commencing July 13, 2020. According to the sources, the producer initiated a price increase of IDR140,000/ton ($9.6/ton) for local PP Homo Raffia cargoes as compared to the previous price list. The latest offers are available in the market at IDR15,490,000/ton ($1,073/ton) on cash, FD Indonesia basis and excluding 10% VAT.
