As SSESSMENTS.COM noted, adjustments made by an Indonesian trader for local PE and PP offers have failed to attract buyers. On Wednesday, July 29, the trader’s latest offers for local PE and PP cargoes across different grades emerged with decreases on a weekly comparison. For PE, the offers for HDPE Film and LLDPE Film C4 declined by IDR250,000/ton ($17/ton) and IDR350,000/ton ($24/ton), respectively. As for PP, the offers for PP Homo Injection and PP Homo Raffia slipped by IDR150,000/ton ($10/ton), while PP Homo Film dropped by IDR250,000/ton ($17/ton). Despite the downward adjustments, buyers remain unresponsive and the trader has yet to achieve any deals.
Regarding the cancellation of LLDPE Film C4 cargoes to China, the trader has yet to hear about compensation from the leading Indonesian polyolefins producer. The trader only heard about the rumour that the leading Indonesian producer is exporting to the China market. The trader further commented that if the producer is able to sell their cargoes to the China market at $910-920/ton-level; then it would be better to sell to the export rather than local market. Moreover, SSESSMENTS.COM was told that supply from the leading Indonesian polyolefins producer is ample at the moment.
