An Indonesian converter disclosed to SSESSMENTS.COM the preference in purchasing PET cargoes. For this week, done deal for PET Bottle cargoes from the leading Indonesian producer captured at IDR11,250,000/ton ($764/ton). While for the offers from another local producer and localized China PET Bottle cargoes are available at IDR12,000,000/ton ($815/ton) and IDR11,895,000/ton ($808/ton) respectively. However, the offers were deemed too high, hence, there were no deals concluded so far. All offers are on cash, FD Indonesia basis, excluding 10% VAT. From the import market, offers for PET Bottle of China origin increased by $20/ton from last week. The converter stated that the company prefers to purchase from the local market as making procurement from the import market is riskier.
As reported to SSESSMENTS.COM, sales for finished product from the converter’s end improve around 20% compared to April. “Currently, our production rate is running at full capacity and the production will be stopped from May 23 to May 28 for Eid Al-Fitr holiday,” the converter added.
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