- An Indonesian converter informed SSESSMENTS.COM that cargoes delivery from Chandra Asri Petrochemical and Polytama remains normal, there are no issues so far. From the import market, the converter received offers for PP Homo Raffia from a Saudi producer at $780/ton LC at sight, CIF Indonesian Main Port basis, but did not take the cargoes since Indonesian government still postponed the BMDTP (Custom Duty Borne by the Government) facility until an unspecified time. In terms of demand, sales for converter’s end-products remain stable, the company still received orders for woven and cement bags. The converter opined that sales from their end would remain stable up to Eid Al-Fitr. However, after Eid Al-Fitr, the converter is unsure of the demand outlook.
- A Vietnamese trader disclosed to SSESSMENTS.COM that the offers are scarce this week. The trader only received import offers for Indian PP Homo Raffia cargoes at $780/ton LC at sight, CIF Ho Chi Minh Port. The latest offer is higher by $10/ton compared to last week. Similarly, local prices in Vietnam are also started to go up following the movement in China market. Market talks have it that local PP Homo Raffia prices in Vietnam increased by VND1,000,000/ton ($42/ton) as of recent. However, the uptrend said could not boost demand since the sales for PP in Vietnam market remain slow.
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