A trader in Indonesia informed SSESSMENTS.COM that shocking month-over-month changes were recorded on ABS Injection offers from South Korea to the country. In the week commencing June 22, July shipment offers for the grade surfaced at $1,400/ton on LC at sight, CIF Indonesia main port basis. According to the trader, the offers were $300/ton higher than last month. Meanwhile, on a weekly comparison, the offers increased by $70/ton.
In the domestic market, the trader heard that a local producer will increase offers for GPPS Injection to $1,000/ton on cash, FD Indonesia basis and excluding 10% VAT. The producer also might move allocation to the export market if the domestic market is unable to absorb. From the trader’s end, offers for local GPPS Injection and HIPS Injection cargoes to end-users decreased by IDR500,000/ton ($35/ton) from last week’s levels. “We will adjust offers for July delivery following the adjustments applied by the local producer,” the trader told SSESSMENTS.COM.
