- The leading Philipines polyolefins producer informed SSESSMENTS.COM that the company has not been importing to Indonesia for the last few months, and at the moment, local PP Homo Raffia prices are quite high. On the production sector, the company’s naphtha cracker previously shut on March 31 due to a technical issue is expected to be back on-stream as scheduled, by April 15 or April 16.
- An Indonesian PP producer disclosed to SSESSMENTS.COM about their lower offers following the leading Indonesian polyolefins producer’s movement. Demand-wise, sales remain slow, but there are still some transactions this week. Some buyers placed bids for PP Homo Raffia at IDR13,000,000/ton ($828/ton) on 15 days term, FD Indonesia basis and excluding 10% VAT, but the producer is not willing to sell at that level as no sales pressure from their end due to maintenance shutdown at PP plant. Additionally, accepting such a low level will be disrupting the market trend.
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