A local converter in Indonesia informed that the shipment for HDPE Film cargoes from United Arab Emirates to the country will be delayed until mid-July. Further explained, at the end of May, the converter purchased Emirati HDPE Film cargoes for June shipment. However, as told to SSESSMENTS.COM, the shipment for these cargoes will be delayed until the middle of July. So far, no further information regarding the reason behind the delay.
In terms of offers, despite the delay, this week, the converter still purchased a small quantity of HDPE Film from the same producer at the same level to the initial offers at $740/ton, citing that the current prices are special offers. While for other origins, the converter received Kuwaiti HDPE Film and LLDPE Film C4 at $790/ton and $770/ton, respectively. While for Philippines cargoes, SSESSMENTS.COM’s pricing database showed that both HDPE Film and LLDPE Film C4 are available at the same level at $820/ton, however, these cargoes have been sold out. All import offers are on LC at sight, CIF Indonesia Main Port basis.
In the domestic market, offers for HDPE Film via the largest local trading house in Indonesia are available in the US Dollar denomination at $1,004/ton on cash, FD Indonesia basis and excluding 10% VAT. On the supply front, PE supply in the market is limited as most suppliers have a low inventory on hand after decided to not stocking up before Eid Al-Fitr holiday. As such, currently, they are starting to make procurements. Due to that, the converter opined that PE prices are expected to drop coming to July or August as at that time, import cargoes will start to flood the market, as stated to SSESSMENTS.COM.
