- Market sources in Indonesia revealed to SSESSMENTS.COM that the leading polyolefins producer in the country has announced a fresh price list for the week commencing June 8, 2020. As compared to the previous price list, the producer initiated a price increment of IDR150,000/ton ($10/ton) for PP Homo Raffia cargoes. The latest offers from the producer are available at IDR14,620,000/ton ($1,042/ton) on cash, FD Indonesia basis, and excluding 10% VAT.
- Whereas in Vietnam, a trader who is also a converter informed SSESSMENTS.COM on receiving offers for Middle Eastern PP Homo Raffia cargoes last week at $860/ton on LC at sight, CIF Haiphong Port, but decided not to proceed with procurement considering the customs duty. Last week in the local market, the offers for local PP Homo Raffia cargoes were mostly available around VND24,000,000/ton-level, while the trader expressed their selling idea at VND23,700,000/ton ($1,018/ton) on cash, FD Vietnam basis and including 10% VAT. The company decided to lower their sell idea since they are still unable to compete with other big traders. Demand-wise, the sales for end-PP products related to the construction sector from the company’s end is quite slow, hence, their production is only running around 60-70% from the normal capacity. From the trader’s end, they are currently still buying on an as-needed basis due to a blurry outlook.
