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NewsSSESSMENTS: Indonesian PET Producer Mulls Over Price Adjustment, Driven By Shift In Crude Oil And Monomer Prices

Author: SSESSMENTS

An Indonesian PET producer mulls over price adjustment, backed by the shift in crude oil and monomer prices. As told to SSESSMENTS.COM, in the upstream market, monomer prices in Southeast Asia have been rallying following the rebound in crude oil prices. On a week-on-week basis, PTA prices inched up by $15/ton, while MEG prices went up between $24-27/ton. Due to the circumstances, the producer is planning to adjust the prices up by next week.

This week, the producer maintained a stable offer level for the local market despite the rally in crude oil prices. Overall buying sentiment for PET resins is still weak amidst tepid end-product demand and pessimistic economic conditions. To the export market, SSESSMENTS.COM was told that the producer is facing difficulties in selling to Vietnam due to competitive prices in the country. 

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Local PET Bottle offers on cash, FD basis (excluding 10% VAT in all terms)

OriginTransaction TypeOffers (IDR/ton)Equivalent in USD/tonDelivery Location
IndonesiaOffer Given11,800,000-12,000,000780-793Jakarta
IndonesiaOffer Given12,150,000-12,450,000803-823Surabaya

Export PET Bottle offers on LC at sight, FOB Indonesia basis

OriginTransaction TypeOffers (USD/ton)
IndonesiaOffer Given740-745

Tags: Asia Pacific,English,Indonesia,News,PET,SEA

Published on May 8, 2020 4:25 PM (GMT+8)
Last Updated on May 8, 2020 4:25 PM (GMT+8)