As SSESSMENTS.COM noted, an Indonesian converter opted to deal with adjusted South Korean PP cargoes. A converter based in Indonesia informed that the company received import offers for PP cargoes from a South Korean producer. PP Block Copolymer offered at $950-960/ton on LC at sight, CIF Indonesia Main Port basis, up by $100/ton from last month's offer. The deals were reached at the initial offer with cargoes will be shipped at the end of July as a result of an unwillingness to renegotiate prices from the producer side, who also stated that the shipments for the beginning of July were fully booked.
The converter stated that the price of local PP Block Copolymer was around IDR15,000,000/ton ($1,053/ton)-level. SSESSMENTS.COM noted that there is a fairly high difference between the local price and the import deals reached by the converter. Speaking about end-product, the converter told that demand for paint containers is very slow due to COVID-19 outbreak.
