Export PP offers on LC at sight, CIF China Main Port basis
Citing difficulties selling in the domestic market, an Indonesian trader diverted PP cargoes to China. As revealed to SSESSMENTS.COM, the trader sold PP Homo Raffia cargoes from the local producers to the China market at $790/ton on LC at sight, CIF China Main Port basis as the trader could not sell the cargoes in the local market. The trader stated that most local manufacturers have been reducing the operating rate due to the Coronavirus pandemic. While some including housewares and shoes manufacturers have halted production activities as the demand diminished.
“We think that the current offers have bottomed out, however, there are no customers checking prices for this week. Most of them prefer the sideline positions and ask for the delivery at the end of May as the outbreak is predicted to slow down in early June,” the trader explained to SSESSMENTS.COM. Moreover, players are not keen on running the business during Ramadhan (fasting month).
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Tags: Asia Pacific,China,English,Freemium,Indonesia,News,PP,SEA
Published on April 29, 2020 5:37 PM (GMT+8)Last Updated on October 1, 2020 4:58 PM (GMT+8)
