A Thai PE producer informed SSESSMENTS.COM that the company plans to move allocation to China amid the slow market in Indonesia. As stated by the producer, considering the healthy demand in the China market, the producer plans to move PE allocation for Indonesia to China market. However, the producer will monitor the market further before making the final decision. In terms of offers, this week, the producer maintained stable import PE offers due to the large-scale social distancing in Jakarta. However, buyers’ buy idea remains very low, at $40/ton lower than the initial offers for HDPE Film and LLDPE Film C4 cargoes. As such, the producer could not accept such a level. The producer is also offering in Rupiah denomination, but no deals reported yet.
Further explained, cargoes delivery in Indonesia would not be disrupted as the government shifts Eid Al-Fitr Holiday to the end of the year. As stated by the producer, there will be no truck ban; hence, the company could deliver cargoes at the first, second, and the last week of May as the government has postponed Eid Al-Fitr Holiday to December 28-31, 2020, as SSESSMENTS.COM noted.
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