A global trading house informed SSESSMENTS.COM that the company decided to move PP allocation for Indonesia to the Vietnam market due to cold responses from buyers. Offers for Middle Eastern PP Homo Raffia via the trader were available at $830/ton. However, no single deals concluded as customers’ buying ideas between $85-90/ton lower than the initial offers were deemed too low. As such, the trader prefers to move the cargoes to the Vietnam market and has managed to sell all of the allocations.
Likewise, offers for Singaporean PP Homo Raffia at $850/ton gained cold responses from buyers. Despite the limited supply as the producer will switch production to non-woven PP, buyers remain uninterested to take the cargoes as market talks have it that Vietnamese PP Homo Raffia are available at $50/ton lower than offers for the Singaporean cargoes. As for South Korean PP Block Copolymer, the offers are available at $860/ton. All offers are on LC at sight, CIF Indonesia Main Port basis. While for South Korean PP Homopolymer grades, currently, most producers do not have an allocation to Indonesia and more focused on selling to China market. More added, the trader received inquiries for PP cargoes from buyers in China, but could not fulfil the orders citing zero allocation from the supplier, SSESSMENTS.COM noted.
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