As contacted on Monday afternoon, April 27, an Indonesian PS producer gave sneak peek for the upcoming May delivery offers to the domestic market, citing that the company might start announcing the offers the next day. For GPPS Injection, the producer expressed their sell idea between $950-970/ton, while for HIPS Injection between $1,020-1,040/ton on cash, FD Indonesia basis and excluding 10% VAT. Further added, the recent drop in crude oil prices have a limited impact on SM prices since Benzene prices have started to soar.
In the previous week, the producer managed to secure some deals for GPPS Injection to the China market at $950/ton, while transactions for HIPS Injection cargoes were successfully concluded at $1,020/ton with a total volume of 2,000 tons. All transactions were on LC at sight, CIF China Main Port basis. “We are allocating more volumes to the export market since our company is unable to move out cargoes in the domestic market. Normally, we allocate a total of 6,000 tons to the domestic market, while another 1,000 tons will be allocated to the China market. However, we are only able to sell 4,000 tons volumes to the local market recently, while to the China market around 2,000 tons.
“Amid regional lockdown in Jakarta and surrounding areas, we still manage to arrange materials delivery to all customers. However, the customers have to obtain approval letters to operate during the large-scale social restrictions or PSBB,” the producer explained to SSESSMENTS.COM.
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