Official offers from a regional trader to the Indonesia market remain absent this week, yet quotation prices for Vietnam PP cargoes are still given and with adjustment spotted. As of Wednesday, April 8, SSESSMENTS.COM was told that if there are some inquiries from Indonesian buyers, the trader’s quotation price for import PP Homo Injection and PP Homo Raffia cargoes of Vietnam origin is $20/ton lower than last week’s level. At the time of publication, no bids received yet. The trader voiced out that Indonesian buyers are probably still hesitant to take import cargoes on the back of Rupiah depreciation against the greenback. As such, most of them prefer local materials at the moment.
On the trader’s end, demand for PP within the last couple of weeks is still ongoing, however, the volume of purchases is small. Speaking of supply, there are no shipment issues or delays from Vietnam. In the days to come, the trader is unsure whether Southeast Asia market will follow the uptrend in the China market. Citing that unlike China, the Coronavirus pandemic within the region is still uncontrolled yet. Further added to SSESSMENTS.COM, the trader mentioned that the partial big-scale physical distancing imposed by the Jakarta government which will be enforced for 14 days starting from April 10, 2020, will surely affect the market, especially the logistics sector.
