An Indonesian converter contacted by SSESSMENTS.COM managed to secure import PP cargoes from Saudi at discounted prices. As revealed, the converter purchased import BOPP cargoes from a Saudi producer at $960/ton on LC at sight, CIF Indonesia Main Port basis, or $50/ton lower from the initial offer level. Upon securing the cargoes, the converter received import offers for the same product from the leading Saudi polyolefins producer at $1,000/ton on the same payment and delivery terms, with the shipment from Singapore. For Southeast Asian cargoes, import PP Homo Raffia offers from a Vietnamese producer remain absent.
In the local market, the converter received a normal allocation for BOPP from the leading Indonesian polyolefins producer on a contract basis. Demand-wise, the converter said that end-product sales are still considered slow, although there are some improvements with customers starting to stock up OPP Film. Looking ahead, converter opined that there is a possibility for import PP offers to move lower in the days to come since the current levels are already too high after relentless rally since May.
