As contacted by SSESSMENTS.COM, a Chinese trader claims that the leading Indonesian polyolefins producer is facing inventory pressure for PP at the moment. The trader mentioned that due to high inventory and slow demand in Indonesia’s domestic market, the producer decided to move cargoes to the export market. On March 25, the trader purchased PP Homo Raffia cargoes from the producer at $760/ton on LC at sight, CIF China main port basis. The deal level is $40/ton lower compared to the offer level reported by the trader earlier this week.
Transactions for PP Homo Raffia from the leading Indonesian polyolefins producer in March, on LC at sight, CIF/CFR Main port basis
| Origin | Transactions Type | Offers (USD/ton) | Delivery Country |
|---|---|---|---|
| Indonesia | Purchased | 760-800 | China |
| Indonesia | Offer Given | 800 | China |
| Indonesia | Bid Received | 760 | China |
| Indonesia | Sold | 825 | Vietnam |
| Indonesia | Purchased | 810 | Vietnam |
| Indonesia | Offer Given | 825-850 | Vietnam |
| Indonesia | Offer Received | 800-810 | Vietnam |
