An Indonesian PS producer shared an update on allocation and drastic adjustments on prices for November delivery. SSESSMENTS.COM was informed that the producer’s allocation for PS is cut to 5,500-5,600 tons from the normal allocation of 7,000 tons for both local and export markets. For the domestic market, the allocation is 5,000 tons and mostly for contract-based customers. To the export market, the allocation is being cut by nearly 50% of the normal quantity of 1,000 tons.
Regarding the prices, the producer reported to SSESSMENTS.COM that the November delivery offers for GPPS Injection and HIPS Injection are adjusted down drastically by $90/ton and $80/ton, respectively, compared to October. In terms of demand, buying sentiment in the local market remains weak due to buyers’ expectations of lower prices. The producer added that based on the traditional pattern, demand for PS in Indonesia would start to pick-up around December.
