A converter in Indonesia contacted by SSESSMENTS.COM expressed the buy idea for import Saudi and Vietnamese PP Homo Raffia offers. This week, import PP Homo Raffia offers from a Saudi PP producer surfaced at $30/ton higher compared to last week’s level. During the same time frame, import PP Homo Raffia offers of Vietnam origin captured unchanged, available at $1,000/ton on LC at sight, CIF Indonesia main port basis. The converter has no intention to submit the bids as the offers deemed on an unreasonably high level. Buy idea voiced out at $70/ton lower than the initial offer level or at $920/ton-level, for Saudi cargoes. While for Vietnamese cargoes, considering the non-dutiable cargoes, the workable prices should be at $20/ton higher compared to the buy idea for Middle Eastern cargoes. As the import PP Homo Raffia offers were deemed too high, the converter decided to halt the procurement and wait for a downward price correction.
Import PP offers on LC at sight, CIF Indonesia Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) |
|---|---|---|---|
| Saudi | PP Homo Raffia | Buy Idea | 920 |
| Saudi | PP Homo Raffia | Offer Received | 990 |
| Vietnam | PP Homo Raffia | Buy Idea | 940 |
| Vietnam | PP Homo Raffia | Offer Received | 1,000 |
