A Thai PE producer informed SSESSMENTS.COM that the buy idea from Indonesian buyers for import PE cargoes is much lower than the initial offer levels. On a weekly comparison, the producer trimmed offers for HDPE grades and LLDPE Film C4 between $20-30/ton. While for LDPE grades, the offers decreased by $30/ton compared to the same period. However, despite the adjustment, Indonesian buyers deemed the offers as unattractive after being converted into Rupiah. Buyers express buy idea for HDPE Film and LLDPE Film C4 at $50/ton lower than the initial offer level at $740-750/ton on LC at sight, CIF Indonesia Main Port basis.
More added by the producer, currently, the production rates at the company’s end are still running at 70-80% from total capacity. However, amid the market uncertainties, the producer plans to push production up to 100%. No further explanation of this matter from the producer. The producer opined to SSESSMENTS.COM that in the upcoming weeks, PE prices are expected to decrease further and buyers will ask lower PE prices.
