An Indonesian converter informed SSESSMENTS.COM that due to the limited supply, a Singaporean HDPE producer approaches the company with triple-digits price adjustments. On a monthly comparison, offers for HDPE Blow Moulding from a Singaporean producer moved up by $100/ton. According to the converter, the producer decided to implement hefty adjustments citing that the availability of these cargoes is limited.
Despite the high prices, the converter stated to SSESSMENTS.COM that the company doesn’t have much choice but to make procurement from the producer. The converter revealed deals were concluded at the same level to the initial offers at $970/ton on LC at sight, CIF Indonesia Main Port basis. A second converter, also from Indonesia, mentioned that there is a shipment issue from the producer’s end and the cargoes are estimated to arrive in Indonesia in the third week of July.
For other grades, the converter submitted a bid for LDPE Film cargoes from a Malaysian producer at $60/ton lower than the initial offers. However, the producer rejected the bid and deals finally concluded at $10/ton lower than the initial offers at $1,000/ton on the same payment and delivery terms, SSESSMENTS.COM noted.
