A regional trader reported to SSESSMENTS.COM the company skipped giving new import PE and PP offers to the Indonesia market for this week due to zero spot allocation. For PP, the trader has yet to get an allocation from a Vietnamese producer. Market talks have it that a Vietnamese PP producer projected to start the normal production activity at the end of the month. However, there is no confirmation yet from the producer. “The producer might allocating some volume once the plant is running at full rate, although we are unsure as we heard that the producer still has some backlogs to be cleared, particularly to China market,” the trader added.
As reported to SSESSMENTS.COM, the Indonesian market is rather quiet. Some buyers are asking for PE and PP cargoes for prompt delivery. The trader revealed that there was some allocation available for import Philippines HDPE Film and LLDPE Film C4 cargoes a few weeks ago, yet there is no allocation left at the moment. As such, the trader is unable to meet the customers’ request. Pertaining to the outlook, the trader stated that both price and demand outlook will be difficult to predict. Therefore, it is necessary to observe market development further. So far, HDPE demand is better than LLDPE, while demand for PP is relatively stable. Nevertheless, there is still a possibility for PP demand to slow down as the harvest season is almost over.
Tags: Asia Pacific,English,Indonesia,News,PE,PP,Philippines,SEA,VietnamPublished on June 24, 2020 3:44 PM (GMT+8)
Last Updated on June 24, 2020 3:44 PM (GMT+8)