- According to a trader and converter in Malaysia, the Malaysian authorities are starting to loosen the criteria for factories to resume production, following weeks of stoppages due to the Coronavirus outbreak. Recently, the company received approval to resume operations with a minimal number of workers. As the market has yet to recover, the company is only able to run below 50% from the normal capacity. In terms of offers, SSESSMENTS.COM noted that the company starts offering PP Homo Film to the local market at MYR3,950/ton ($905/ton) on 30 days credit term, FD Malaysia basis and excluding 6% SST, which similar to the leading Malaysian polyolefins producer’s price list.
- Whereas in Indonesia, a local trader informed SSESSMENTS.COM on revising down local PP offers from last week’s level. As compared to last week, the trader initiated a price reduction of IDR200,000/ton ($13/ton) for local PP Homo Raffia cargoes. The latest offers are available at IDR13,600,000/ton ($874/ton) on cash, FD Indonesia basis and excluding 10% VAT, with deals concluded between IDR300,000-400,000/ton ($19-26/ton) lower than the initial offer level.
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