- An Indonesian trader informed SSESSMENTS.COM that Indian and South Korean PP Homo Raffia cargoes are being offered at the same level to the leading Malaysian polyolefins producer’s cargoes at $800/ton on LC at sight, CIF Indonesia Main Port basis. While offers for Middle Eastern PP Homo Raffia are available at $760-780/ton on the same payment and delivery term. The overall demand for PP resins in Indonesia is not strong at the moment. No improvement was seen even though Custom Duty Borne by Government (BMDTP) will come soon as the PP market remains sluggish on the back of the COVID-19 outbreak.
- Meanwhile, a local converter in Indonesia stated to SSESSMENTS.COM that by the end of the month, 3 containers of Vietnamese PP cargoes will arrive in the port, while the other 3 containers expected to arrive on May 7. More added by the converter, ever since large-scale social restrictions (PSBB) imposed, domestic demand is slower. Most shops and retailers are forced to close.
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