SSESSMENTS.COM data showed that Russian LLDPE cargoes offered below the threshold level and trailing US cargoes to compete in Indonesia market. On April 8, an Indonesian converter informed on receiving import offers for LLDPE Film C4 of Russia origin at $670/ton on LC at sight, CIF Indonesia Main Port basis. The converter received this offers from a Vietnamese trader, but cargoes shipment is still from Russia. As such, the converter did not proceed with procurements considering the long lead-time, despite the offers is very attractive.
According to SSESSMENTS.COM pricing database, offer for Russian cargoes is the lowest offers captured for long lead-time cargoes to Indonesia market, trailing US LLDPE Film C4 offers. On April 7, a trader based in Indonesia received offers for import LLDPE Film C4 of US origin at $680/ton on the same payment and delivery term, with shipment from the US. No deals reported at the time of publication yet.
Amid market turmoil and intensified Coronavirus outbreak in Indonesia, interest towards import cargoes become thin. As Rupiah depreciated a lot against the greenback, the majority of Indonesian buyers preferred to source locally citing a big risk amid many uncertainties in the market. Additionally, an Indonesian converter claimed that the leading Indonesian polyolefins producer is selling LLDPE Film C4 cargoes as low as IDR12,000,000/ton ($740/ton)-level; hence, import offers are not attractive at the moment. As SSESSMENTS.COM noted, a Thai PE producer is one of the foreign suppliers who face difficulties in selling to Indonesia market. This week, the producer adjusted down its offers to match buyers’ buy idea expressed last week, yet the latest offer could not meet buyers’ buy idea for this week. Click here to see the complete story.
