A regional trader told SSESSMENTS.COM that the company sold out most PE and PP grades as demand in Indonesia at the moment is robust. Buyers in the country are looking for import cargoes as local supply is limited. Besides, the government has issued BMDTP (Custom Duty Borne by Government). “Inquiries keep coming, but we do not have PE and PP cargos of Middle East origin anymore,” the trader said..
For PP, the trader sold PP Homo Raffia from the Middle East at $880/ton while cargoes of Vietnam origin at $900/ton on LC at sight, CIF Indonesia main port basis. The trader mentioned to SSESSMENTS.COM that both cargoes are no longer available and the trader regretted selling at those levels as the cargoes could be sold at far higher prices considering the current demand condition. The remaining PP cargoes on trader’s end are PP Homo Raffia of India origin and PP Block Copolymer from Singapore and South Korea, but the availability of PP Block Copolymer from South Korea is limited. As for PE, all the allocation for HDPE Film and LLDPE Film C4 has been sold out. US LLDPE Film C4 cargoes shipped from Port Klang, Malaysia were sold between $820-830/ton on LC at sight, CIF Indonesia main port basis. On the other hand, there were no transactions for LDPE Film from Qatar to date.
