- An Indonesian converter revealed that price quotation for localized Southeast Asian PP Homo Raffia cargoes via a trader decreased by IDR150,000/ton ($10/ton) from last week, available at IDR14,750,000/ton ($993/ton) on cash, FD Indonesia basis, and excluding 10% VAT. However, the converter stated to SSESSMENTS.COM that the trader does not have ready materials at the moment. Demand-wise, sales for finished product for essential food packaging are healthy while for other food packaging remain lukewarm. For the outlook, local PP prices are expected to move lower in the near term.
- A global trading house reported to SSESSMENTS.COM that last week, the trader was offering import Saudi PP Homo Raffia to Vietnam market at $990/ton on LC at sight, CIF Vietnam Main Port basis. However, the buyers were giving the cold shoulder as most of them already had sufficient inventory on hand. As such, most buyers prefer to only monitor the market movement with no intention to make purchases. The trader commented that Vietnam market would turn to be quiet if prices continue to increase this week.
