- A converter based in Vietnam reported to SSESSMENTS.COM on receiving offers for PP Homo Raffia from a Thai PP producer at $10/ton higher than last week’s level. As informed, the increment was made on the back of the absence of sales pressure stemming from the upcoming maintenance shutdown at the producer’s PP plant in June. In contrast, May shipment offers for PP Homo Raffia of Saudi origin nosedived between $80-90/ton compared to the price list announced in late April. Despite the adjustment, the offers are still considered unattractive, hence, the converter decided not to proceed with the procurement. At the moment, the converter prefers to wait on the sidelines while monitoring the market development before making procurement. Demand-wise, their end-products sales this week are still ongoing, therefore, the production is running at high rate, around 90-95%.
- While in Indonesia, a trader informed SSESSMENTS.COM that the company received offers for local PP Homo Raffia from a supplier at IDR13,000,000/ton ($859/ton) on cash, FD Indonesia basis and excluding 10% VAT and with no minimum quantity of purchase. At the moment, the trader has yet to hear any offers below such a level from local suppliers. As the trader still has sufficient inventory, hence, they decided not to take the cargoes. From the trader’s end, the company has yet to conclude any deals with customers after offering local PP Homo Raffia cargoes at IDR13,400,000/ton ($885/ton) on cash, FD Indonesia basis and excluding 10% VAT.
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