- Local PET Bottle offers in general recorded in the same trend during April
- A local producer managed to move some cargoes to the export market
- PET price anticipated to experience further adjustment, continue the same trend as April
Week over week comparison, SSESSMENTS.COM’s team noted that the offers for local PET Bottle cargoes were captured stable to decrease by IDR500,000/ton ($33/ton) during April. The most notable downward adjustments of IDR500,000/ton ($33/ton) were captured on the week commencing April 20 after the crude oil price crashed into negative territory. However, the decrease was around IDR100,000-300,000/ton ($7-20/ton) recorded in the second week of the month compared to the previous two weeks.
From the import market, the offers for Vietnamese PET Bottle cargoes to Indonesia recorded decreased between $5-25/ton on a week over week comparison in April. While for Chinese origin, the offers decreased around $30-40/ton from the previous week in the first week of the month. In contrast, the offers for Chinese PET Bottle in the second and third week of April increase between $10-40/ton on a week over week comparison supported by several factors such as a rebound in crude oil prices, the uptrend in the domestic market, satisfactory sales in the domestic market as well as tight supply from the supplier’s end. However, following the biggest drop in crude oil price crash on April 20, a Chinese PET producer reduced the offers to Indonesia market by $10/ton after previously the prices were adjusted upward by the same amount. Hence, the offers were stable on a weekly comparison. While to the export market, SSESSMENTS.COM was informed that the leading Indonesian PET producer reduced the offers by $20/ton on a weekly comparison following the crude oil price crash. By the final week of the month, sources reported that the done deals for PET Bottle cargoes from the leading Indonesian PET producer to the export market were concluded at the initial offer level at $740-745/ton on LC at sight, FOB Indonesia basis.
According to market sources’ reports to SSESSMENTS.COM, PET demand was generally sluggish as most buyers already have sufficient inventory on hand. Moreover, the sales for the finished product was slowing down as citizens were obliged to stay at home following the implementation of large-scale social distancing (PSBB) in several areas. Healthy demand was reported for hand sanitizer bottles amid the Coronavirus pandemic, although sources opined that the demand might gradually slow down as the bottle can be reused. Sources added that the demand decreased around 40-50% compared to the same period last year. However, on the week commencing April 27, a local producer stated that the company’s sales have been satisfactory as they managed to move some cargoes to the export market.
Looking ahead, Indonesian market players opined to SSESSMENTS.COM that the outlook for PET prices remains cloudy. Although the current offers have reached the lowest level, there is still a possibility that the offers will decrease further considering the unpredictable market condition as well as volatile crude oil prices due to the Coronavirus pandemic.
Click below to view related stories and content on Indonesia PET:
WeeklySSESSMENTS: Indonesia PET Prices W/C March 30
WeeklySSESSMENTS: Indonesia PET Prices W/C April 6
WeeklySSESSMENTS: Indonesia PET Prices W/C April 13
WeeklySSESSMENTS: Indonesia PET Prices W/C April 20
WeeklySSESSMENTS: Indonesia PET Prices W/C April 27
Transaction for local PET Bottle offers between April 1 to April 3, FD Indonesia basis (excluding 10% VAT in all terms)
| Origin | Transaction Type | Offers (IDR/ton) | Equivalent in USD/ton | Payment Term |
|---|
| Indonesia | Offer Received | 12,300,000-12,500,000 | 813-826 | Cash In Advance |
| Indonesia | Offer Received | 13,000,000 | 859 | 30 Days Credit Term |
| Indonesia | Offer Received | 12,700,000 | 840 | 60 Days Credit Term |
| Indonesia | Purchased | 12,600,000 | 833 | 60 Days Credit Term |
Transaction for import PET Bottle offers between April 1 to April 3, CIF Indonesia Main Port basis
| Origin | Transaction Type | Offers (USD/ton) | Payment Term |
|---|
| Vietnam | Offer Received | 745 | LC 120 days |
Transaction for local PET Bottle offers between April 6 to April 10, FD Indonesia basis (excluding 10% VAT in all terms)
| Origin | Transaction Type | Offers (USD/ton) | Equivalent in USD/ton | Payment Term |
|---|
| Indonesia | Offer Received | 12,400,000-13,200,000 | 819-872 | Cash In Advance |
| Indonesia | Offer Received | 12,300,000-12,700,000 | 813-839 | 30 Days Credit Term |
| Indonesia | Purchased | 12,900,000-13,200,000 | 852-872 | 45 Days Credit Term |
Transaction for import PET Bottle offers between April 6 to April 10, CIF Indonesia Main Port basis
| Origin | Transaction Type | Offers (USD/ton) | Payment Term |
|---|
| China | Offer Given | 680-710 | LC at sight |
| China | Offer Received | 660-700 | LC at sight |
| China | Offer Received | 710 | LC 120 days |
| Malaysia | Offer Received | 785 | LC at sight |
| Taiwan | Offer Received | 730 | LC 120 days |
| Vietnam | Offer Received | 730 | LC at sight |
| Vietnam | Offer Received | 725 | LC 120 days |
Transaction for local PET Bottle offers between April 13 to April 17, FD Indonesia basis (excluding 10% VAT in all terms)
| Origin | Transaction Type | Offers (IDR/ton) | Equivalent in USD/ton | Payment Term |
|---|
| Indonesia | Offer Given | 12,000,000-12,700,000 | 793-839 | Cash In Advance |
| Indonesia | Offer Received | 12,000,000-12,200,000 | 793-806 | Cash In Advance |
| Indonesia | Offer Received | 12,750,000 | 843 | 90 Days Credit Term |
| Indonesia | Purchased | 12,400,000 | 819 | 60 Days Credit Term |
Transaction for import PET Bottle offers between April 13 to April 17, CIF Indonesia Main Port basis
| Origin | Transaction Type | Offers (USD/ton) |
|---|
| China | Offer Given | 720 |
| China | Offer Received | 705-710 |
| Vietnam | Offer Received | 710-720 |
Transaction for export PET Bottle offers between April 13 to April 17, FOB Indonesia basis
| Origin | Transaction Type | Offers (USD/ton) |
|---|
| Indonesia | Offer Given | 750-765 |
| Indonesia | Sold | 750-765 |
Transaction for local PET Bottle offers between April 20 to April 24, FD Indonesia basis (excluding 10% VAT in all terms)
| Origin | Transaction Type | Offers (IDR/ton) | Equivalent in USD/ton | Payment Term |
|---|
| Indonesia | Offer Received | 12,000,000-12,750,000 | 793-843 | Cash In Advance |
| Indonesia | Offer Given | 12,100,000-12,600,000 | 800-833 | Cash In Advance |
| Indonesia | Sold | 12,000,000 | 793 | 30 Days Credit Term |
| Indonesia | Purchased | 12,800,000 | 846 | 30 Days Credit Term |
| Indonesia | Offer Received | 12,400,000 | 819 | 60 Days Credit Term |
| Indonesia | Sold | 12,500,000-12,600,000 | 826-833 | 60 Days Credit Term |
| Indonesia | Offer Received | 12,250,000 | 810 | 90 Days Credit Term |
Transaction for import PET Bottle offers between April 20 to April 24, CIF Indonesia Main Port basis
| Origin | Transaction Type | Offers (USD/ton) | Payment Term |
|---|
| China | Offer Given | 700 | LC at sight |
| China | Offer Received | 670-700 | LC at sight |
| China | Offer Received | 720 | LC 120 days |
| Taiwan | Offer Received | 720 | LC 120 days |
| Taiwan | Purchased | 700 | LC 120 days |
| Vietnam | Offer Received | 720 | LC 120 days |
Transaction for export PET Bottle offers between April 20 to April 24, FOB Indonesia basis
| Origin | Transaction Type | Offers (USD/ton) |
|---|
| Indonesia | Offer Given | 730 |
Transaction for local PET Bottle offers between April 27 to April 30, FD Indonesia basis (excluding 10% VAT in all terms)
| Origin | Transaction Type | Currency | Offers/ton | Equivalent in USD/ton | Payment Term |
|---|
| Indonesia | Offer Given | IDR | 11,800,000-12,500,000 | 780-826 | Cash In Advance |
| Indonesia | Offer Received | IDR | 12,500,000 | 826 | 30 Days Credit Term |
| Indonesia | Purchased | IDR | 12,700,000 | 839 | 30 Days Credit Term |
| Indonesia | Offer Received | IDR | 12,000,000 | 793 | Cash In Advance |
| Indonesia | Offer Received | IDR | 11,950,000 | 790 | 90 Days Credit Term |
| Indonesia | Offer Received | IDR | 12,400,000 | 819 | 60 Days Credit Term |
| Indonesia | Sold | IDR | 11,800,000-12,450,000 | 780-823 | Cash In Advance |
| Indonesia | Offer Received | USD | 760 | - | Cash In Advance |
Transaction for import PET Bottle offers between April 27 to April 30, CIF Indonesia Main Port basis
| Origin | Transaction Type | Offers (USD/ton) | Payment Term |
|---|
| China | Offer Given | 700 | LC at sight |
| China | Offer Received | 650-680 | LC at sight |
| China | Offer Received | 710 | LC 120 days |
| Vietnam | Offer Received | 680-730 | LC at sight |
| Vietnam | Offer Received | 720 | LC 120 days |
Transaction for export PET Bottle offers between April 27 to April 30, FOB Indonesia basis
| Origin | Transaction Type | Offers (USD/ton) |
|---|
| Indonesia | Offer Given | 740-745 |
| Indonesia | Sold | 740-745 |
Tags: Asia Pacific,English,Indonesia,Monthly,PET,SEA
Published on May 8, 2020 11:04 AM (GMT+8)
Last Updated on May 8, 2020 11:05 AM (GMT+8)
