Since import PP offers from a supplier deemed unworkable, an Indonesian trader sets prices following buyers’ acceptance level. As contacted by SSESSMENTS.COM, an Indonesian trader reported on offering import PP Block Copolymer cargoes of Singapore origin at $1,040/ton on LC at sight, CIF Indonesia Main Port basis. In order to match buyers’ acceptance level, the trader revealed that the company is offering the Singaporean cargoes at $30/ton lower than the supplier’s offer levels. At the same time, the trader also offered PP Block Copolymer of South Korea origin at $1,020/ton on the same payment and delivery terms, which the prices are suitable with the buyers’ acceptance level. To date, the trader’s attempt in matching their offers with buyers’ acceptance levels has brought satisfactory results because the trader managed to sell PP Block Copolymer cargoes of both origins at the initial offer levels. Moreover, all the trader’s allocations for South Korean PP Block Copolymer have been sold out.
For other PP grades, this week’s offers for import Saudi PP Homo Raffia surfaced at $20/ton higher from last week due to limited supply from the supplier’s end. Meanwhile, import offers for the same product from another Saudi producer remain stable from the same period, and the trader is offering to the Indonesia market at a similar level to last week’s offers. From India, offers for PP Homo Injection and PP Homo Raffia also went up by $15/ton on a weekly comparison, and the trader will also adjust up their offers by the same amount. Additionally, the trader also received offers for PP Homo Injection and PP Homo Raffia of South Korea origin at $950/ton, the trader offered to the market at $20/ton higher, SSESSMENTS.COM noted. This week, buyers’ buy ideas for PP Homopolymers are mostly at $940/ton-level; which means current prices from Indian and Saudi producers are unworkable. All offers are on LC at sight, CIF Indonesia Main Port basis.
Demand-wise, the trader stated to SSESSMENTS.COM that buying sentiment remains flat this week. Demand for import PP cargoes in Indonesia market is considered slow as buyers’ acceptance level is unsuitable with some of the current offer levels available in the market.
Import PP offers on LC at sight, CIF Indonesia Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) |
|---|
| India | PP Block Copolymer | Offer Given | 1,020 |
| Singapore | PP Block Copolymer | Offer Given | 1,040 |
| Singapore | PP Block Copolymer | Sold | 1,040 |
| South Korea | PP Block Copolymer | Offer Given | 1,020 |
| South Korea | PP Block Copolymer | Sold | 1,020* |
| India | PP Homo Injection | Offer Received | 940 |
| South Korea | PP Homo Injection | Offer Received | 950 |
| South Korea | PP Homo Injection | Offer Given | 970 |
| India | PP Homo Raffia | Offer Received | 940 |
| Saudi | PP Homo Raffia | Offer Received | 920-940 |
| Saudi | PP Homo Raffia | Offer Given | 940 |
| South Korea | PP Homo Raffia | Offer Received | 950 |
| South Korea | PP Homo Raffia | Offer Given | 970 |
Description: *Allocation has been sold out
Tags: Asia Pacific,English,ISC,India,Indonesia,Korea,Middle East,News,PP,SEA,Saudi Arabia,Singapore
Published on July 15, 2020 2:31 PM (GMT+8)
Last Updated on July 15, 2020 2:31 PM (GMT+8)
