As informed to SSESSMENTS.COM, August allocation for local and export markets from an Indonesian PS producer sold out within a day. As reported by a producer source, the company managed to sell as much as 7,400-7,500 tons of GPPS Injection and HIPS Injection cargoes to both local and export markets within a day. In the local market, the producer sold around 5,400-5,500 tons PS cargoes to distributors with deals concluded at the initial level to slightly lower by $10/ton on the low-end of the price range for GPPS Injection. Whereas to the export market, the producer sold around 2,000 tons PS cargoes, mainly to China, with deals concluded at the initial offer levels for both GPPS and HIPS cargoes.
Based on SSESSMENTS.COM’s pricing database, the producer’s offers to the local market were $30/ton higher for GPPS and between $30-40/ton higher for HIPS, both compared to July delivery offers. Similarly, export offers for GPPS were $60/ton higher while HIPS offers were $70/ton higher, all compared to July shipment offers. For ABS, the producer is offering import cargoes of China origin to the local buyers at $25/ton lower from last week’s offers, available at $1,425/ton on LC at sight, CIF Indonesia Main Port basis.
Demand-wise, the producer sees robust demand from refrigerators and printers manufacturers in the local market. On the supply side, the producer told SSESSMENTS.COM that big manufacturers in Indonesia, such as LG and Epson, cannot get raw materials from their suppliers; hence, both of them are buying from the producer. In the production sector, the producer noted that big home appliance manufacturers in Indonesia, such as Sharp, Haier and Panasonic, are currently running at full rates.
