An Indonesian converter contacted by SSESSMENTS.COM shared difficulties in getting local BOPP cargoes this week. The converter has submitted inquiries for BOPP to the leading polyolefins producer in the country, however, the producer has not given any response yet. Apparently, the producer does not have any spot offers at the moment as supply is limited. Likewise, the converter did not receive any offers for import PP Homo Raffia of Vietnam origin so far, but their stocks remain sufficient to cover this month’s production.
Further added by the converter, the huge drop in crude oil prices has hampered buying sentiment as buyers currently prefer to adopt a wait-and-see stance. The current situation is even worse than in 2014 as in that year, the benchmark for PP formula prices dropped by $125/ton, SSESSMENTS.COM was told.
