As SSESSMENTS.COM noted, an Indonesian PS producer just announced July offers to the local and export markets. According to the information provided by the producer’s source, the company's July offers for GPPS Injection and HIPS Injection to all markets are $50/ton higher on a monthly comparison. Particularly to the export market, the producer is offering GPPS Injection to China between $1,000-1,020/ton on LC at sight, CIF Main Port basis. The low-end on the price range is available for big volume purchases at and above 500 tons, while the high-end is for small purchases of around 100-200 tons. Since Wednesday (June 24), the producer has already received some orders from Chinese buyers. In the local market, the producer is also offering import ABS Injection cargoes of China origin at $1,450/ton.
For June sales, SSESSMENTS.COM was told that the producer was only able to sell around 2,000 tons in the domestic market from the total allocation of 5,000 tons. At that time, demand in the domestic market was rather slow, even when most converters were already running production at around 70-80% from the normal rate. To the export market, the producer managed to sell approximately 2,000 tons to China and 700-1,000 tons to Vietnam and Philippines markets. To the China market, deals for June shipment were closed at a similar level as local; between $970-980/ton.
Further added to SSESSMENTS.COM, domestic demand for printers has fully recovered; big manufacturers such as Epson have been gaining satisfactory sales as of recent. However, the producer foresees a negative outlook regarding overall demand following the relentless raising cases of COVID-19 in Indonesia, which may lead to another round of lockdown.
