An Indonesian PET producer applied different pricing strategies between the domestic and export markets, SSESSMENTS.COM was told. In comparison to a week earlier, the offers for PET Bottle in the domestic market maintained relatively stable. While to the export market, the offers on FOB basis decreased by $20/ton on a weekly comparison following the crash in crude oil prices on April 20. “Orders from customers are still ongoing and our plant is still running at the normal operating rate,” the producer stated.
The producer added to SSESSMENTS.COM that the currency exchange rate also provides some support to local producers’ sales as buyers will be unwilling to take import cargoes considering weakening Rupiah against the US Dollar at present. However, the producer remains cautious and expecting customers will not cancel their orders owing to the slow business. Regarding the large-scale social restrictions in several big cities in Indonesia, the producer stated that there is no logistic issue on the company’s end; materials delivery remains normal.
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