An Indonesian PS producer revealed to SSESSMENTS.COM that the company has sold out all July allocation to the domestic and export market this week. As informed, the producer has sold around 5,300-5,500 tons for June delivery in the domestic market. To the export market, the producer sold around 1,500-1,800 tons for July shipment to China, while around 500 tons sold to Philippines and Australia markets.
Previously, the producer quoted higher offers for July delivery to the domestic market. As stated to SSESSMENTS.COM, the producer’s July delivery offers for GPPS Injection and HIPS Injection cargoes to the domestic market are available at $50/ton higher than the offer level available in the previous month. To distributors, transactions were mostly concluded between $20-30/ton lower than the initial offer level. Demand-wise, the producer has been gaining satisfactory sales as of recent despite mounting fears over the second wave of infections continue to weigh on market sentiment. Amid a spike in new coronavirus cases, Jakarta, Indonesia capital city, extended its transitional PSBB status for an additional two weeks starting from July 3 to July 16, 2020. During this transition period, most companies are only allowed to operate with 50% of their employees on-site to reduce the risk of viral transmission.
