- Local PET Bottle offers movement captured in a mixed direction
- Striking demand reported for hand sanitizer bottle
- Demand expected to increase following Eid Al-Fitr preparation
Due to the weakening of local currency against the US Dollar, local offers for PET Bottle increased by IDR600,000/ton ($36/ton) in the first week of March compared to a fortnight ago, SSESSMENTS.COM was told. Likewise, a local producer also increased PET Bottle offers between IDR300,000-550,000/ton ($18-33/ton) from a week earlier. On the week commencing March 9, one of the local producers decided to keep the offers stable while another local producer reduced the offers by IDR50,000/ton ($3/ton) from the previous week. Moving to the following week, a local producer trimmed PET Bottle offers by IDR100,000/ton ($6/ton) on weekly comparison. Contrastingly, another local producer increased the offers for PET Bottle by IDR200,000/ton ($12/ton) compared to the same period. By the final week of the month, local PET Bottle increased between IDR250,000-800,000/ton ($15-48/ton) owing to the depreciation Indonesian Rupiah against the US dollar.
On a weekly comparison, SSESSMENTS.COM noted that downward adjustments were captured for import Chinese PET Bottle between $25-35/ton at the beginning of the week commencing March 16. The offers decreased further by another $25/ton on March 20. In the export market, an Indonesian PET producer reduced the offers by $30/ton compared to a week earlier in the second week of the month, offered at $800/ton on LC at sight, FOB Indonesia basis.
In general, PET demand in Indonesia was recorded slow during March affected by some factors such as sufficient inventory on hand, slow demand for finished products, as well as Coronavirus outbreak. However, sources stated to SSESSMENTS.COM that the demand for hand sanitizer bottles was striking amid the Coronavirus outbreak. By the fourth week of the month, market activity reported limited as market players start to work from home as the capital of Indonesia declared a state of emergency over the Coronavirus outbreak. On the production side, PT Indorama Polypet Indonesia planned to shut the company’s PET unit with a production capacity of 8,400-8,500 tons/month for maintenance purposes on April 10 for around 4-7 days.
Looking ahead, market players opined to SSESSMENTS.COM that the movement of local PET Bottle in the near term will most likely depend on the currency exchange rate. While for the demand, it is predicted to remain slow in general as the Coronavirus pandemic still looms over.
Transaction for local PET Bottle between March 2 to March 6, FD Indonesia basis, excluding 10% VAT in all terms
| Origin | Transaction Type | Offers (IDR/ton) | Equivalent in USD/ton | Payment Term |
|---|
| Indonesia | Offer Given | 12,600,000-12,700,000 | 756-762 | Cash In Advance |
| Indonesia | Offer Received | 12,500,000-13,200,000 | 750-792 | Cash In Advance |
| Indonesia | Offer Received | 13,000,000-13,500,000 | 780-810 | 60 Days Credit Term |
| Indonesia | Purchased | 12,200,000-12,900,000 | 732-774 | Cash In Advance |
| Indonesia | Purchased | 13,000,000 | 780 | 45 Days Credit Term |
Transaction for import PET Bottle between March 2 to March 6 on LC at sight, CIF Indonesia Main Port basis
| Origin | Transaction Type | Offers (USD/ton) |
|---|
| China | Offer Given | 830-840 |
| China | Offer Received | 790 |
| Malaysia | Purchased | 885 |
| Vietnam | Offer Received | 840 |
Transaction for export PET Bottle between March 2 to March 6 on LC at sight, FOB Indonesia basis
| Origin | Transaction Type | Offers (USD/ton) |
|---|
| Indonesia | Offer Given | 830-880 |
Transaction for local PET Bottle between March 9 to March 13, FD Indonesia basis, excluding 10% VAT in all terms
| Origin | Transaction Type | Offers (IDR/ton) | Equivalent in USD/ton | Payment Term |
|---|
| Indonesia | Offer Received | 12,200,000 | 732 | Cash In Advance |
| Indonesia | Purchased | 12,000,000 | 720 | Cash In Advance |
| Indonesia | Offer Received | 12,900,000-13,650,000 | 774-819 | 30 Days Credit Term |
| Indonesia | Purchased | 12,900,000 | 774 | 30 Days Credit Term |
| Indonesia | Offer Received | 13,000,000-13,200,000 | 780-792 | 45 Days Credit Term |
| Indonesia | Offer Received | 12,600,000 | 756 | 60 Days Credit Term |
Transaction for import PET Bottle between March 9 to March 13 on LC at sight, CIF Indonesia Main Port basis
| Origin | Transaction Type | Offers (USD/ton) |
|---|
| China | Offer Received | 760-785 |
| Vietnam | Offer Received | 820 |
Transaction for export PET Bottle between March 9 to March 13 on LC at sight, FOB Indonesia basis
| Origin | Transaction Type | Offers (USD/ton) |
|---|
| Indonesia | Offer Given | 800 |
Transaction for local PET Bottle between March 16 to March 20, FD Indonesia basis, excluding 10% VAT in all terms
| Origin | Transaction Type | Offers (IDR/ton) | Equivalent in USD/ton | Payment Term |
|---|
| Indonesia | Offer Received | 12,500,000-13,500,000 | 750-810 | Cash In Advance |
| Indonesia | Offer Received | 13,000,000-13,500,000 | 780-810 | 30 Days Credit Term |
| Indonesia | Offer Received | 13,700,000 | 822 | 60 Days Credit Term |
| Indonesia | Purchased | 12,300,000-12,800,000 | 738-768 | Cash In Advance |
| Indonesia | Purchased | 13,100,000-13,450,000 | 786-807 | 30 Days Credit Term |
Transaction for import PET Bottle between March 16 to March 20 on LC at sight, CIF Indonesia Main Port basis
| Origin | Transaction Type | Offers (USD/ton) |
|---|
| China | Offer Given | 720-750 |
| China | Sold | 720 |
| Vietnam | Offer Received | 750 |
Transaction for local/localized PET Bottle between March 23 to March 27, FD Indonesia basis, excluding 10% VAT in all terms
| Origin | Transaction Type | Offers (IDR/ton) | Equivalent in USD/ton | Payment Term |
|---|
| Indonesia | Offer Received | 13,200,000-13,600,000 | 792-816 | Cash In Advance |
| Indonesia | Offer Received | 13,950,000 | 837 | 30 Days Credit Term |
| Indonesia | Offer Received | 13,700,000 | 822 | 45 Days Credit Term |
| Indonesia | Offer Received | 14,000,000 | 840 | 90 Days Credit Term |
| Indonesia | Purchased | 13,400,000 | 804 | Cash In Advance |
| Indonesia | Purchased | 13,700,000 | 822 | 45 Days Credit Term |
| Indonesia | Purchased | 13,000,000 | 780 | 60 Days Credit Term |
| Vietnam | Purchased | 14,000,000 | 840 | 30 Days Credit Term |
Transaction for import PET Bottle between March 23 to March 27, CIF Indonesia Main Port basis
| Origin | Transaction Type | Offers (USD/ton) | Payment Term |
|---|
| Vietnam | Offer Received | 720-750 | LC at sight |
| Vietnam | Offer Received | 750 | LC 120 days |
Transaction for local PET Bottle between March 30 to March 31 on cash, FD Indonesia basis, excluding 10% VAT in all terms
| Origin | Transaction Type | Offers (IDR/ton) | Equivalent in USD/ton |
|---|
| Indonesia | Offer Received | 12,500,000-12,700,000 | 750-762 |
Transaction for import PET Bottle between March 30 to March 31, CIF Indonesia Main Port basis
| Origin | Transaction Type | Offers (USD/ton) |
|---|
| Vietnam | Offer Received | 720 |
| Vietnam | Bid Given | 680 |
Tags: Asia Pacific,English,Indonesia,Monthly,PET,SEA
Published on April 2, 2020 1:02 PM (GMT+8)
Last Updated on April 2, 2020 1:02 PM (GMT+8)
