An Indonesian trader sells PS cargoes in a hasty manner, SSESSMENTS.COM noted. Compared to a week earlier, the trader’s offers for local GPPS Injection and HIPS Injection cargoes were adjusted down between IDR700,000-1,000,000/ton ($49-70/ton) considering the slow demand. As stated by the trader, the drastic decreases were aimed to lure the buyers in order to sell a lot of PS cargoes and immediately received cash. Due to the stable SM price as well, the trader disregards the possibility for price increases in the upcoming weeks and opine that it will be better to clear out inventory as fast as possible.
Local PS offers on cash, FD Indonesia basis, excluding 10% VAT in all terms
