- A distributor based in Thailand informed SSESSMENTS.COM that offers for PP Homo Raffia from one of the local producers remain stable from last week, at THB28,500/ton ($876/ton) on cash, FD Thailand basis and excluding 7% VAT. However, some buyers expressed their buy ideas for the grade between THB500-1,000/ton ($15-31/ton) lower than the initial offer, citing the current level is unworkable. At the moment, most buyers are adopting a wait-and-see stance. Most converters are having difficulties in selling their products and experiencing cash flow issues. From the distributor’s side, their sales have dropped by 40% from normal sales before the curfew was imposed. Speaking of curfew, Thailand reportedly has extended the state of emergency for a month until May 31, but no official announcement yet.
- Whereas in Indonesia, a trader reported to SSESSMENTS.COM on receiving better feedback from their customers this week. From the trader’s end, the latest offers for local PP Homo Raffia cargoes lowered by IDR500,000/ton ($32/ton) on a weekly comparison, available at IDR13,000,000/ton ($842/ton) on cash, FD Indonesia basis and excluding 10% VAT. Initially, some buyers submitted bids at IDR12,600,000/ton ($816/ton) on the same payment and delivery term. However, the trader regarded such a level as too low and decided to reject the bids. Eventually, deals were successfully concluded at the same level as the initial offer level but the payment is on 30 days credit term. From suppliers, the trader received local offers for PP Homo Raffia at IDR1,500,000 ($97/ton) lower than last week’s level. The trader decided to delay the procurement as they still have sufficient inventory.
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