Indonesia’s largest local trading house reported to SSESSMENTS.COM on amending local and localized Southeast Asian PE and PP cargoes contrastingly that herded by supply and demand factors. This week, the trader’s offers for local and localized Southeast Asian HDPE grades were hiked by IDR200,000/ton ($12/ton) as supported by the limited supply in the market as well as on the trader’s end. Otherwise, local and localized Southeast Asian LDPE Film and LLDPE Film C4 lowered by IDR200,000/ton ($12/ton) owing to the slow demand in the domestic market. All changes are on a weekly comparison.
For PP, the offers for local and localized Southeast Asian PP Homo Injection and PP Homo Raffia were adjusted down by IDR300,000/ton ($18/ton). While for PP Homo Film, the offers edged down by IDR200,000/ton ($12/ton). All compared to last week’s levels. In the import market, the trader received offers for PP Homo Raffia of Southeast Asia origin at $800/ton on LC at sight, CIF Indonesia Main Port basis, yet not proceeding with the procurement. Similarly, for India and Thailand origin cargoes, the trader is also not keen to buy since the prices will likely to move down further next week, the trader opined to SSESSMENTS.COM. More added, the trader is currently keeping their inventory level as lean as possible. Citing that the market will remain slow on the back of the Coronavirus outbreak.
