Local PS offers on cash, FD Indonesia basis (excluding VAT in USD term)
An Indonesian PS producer told SSESMENTS.COM that the company faces difficulties in selling PS cargoes when manufacturers decide not to operate due to physical distancing. So far, the company was only able to sell 50% of the GPPS Injection and HIPS Injection allocation to the market. The problem that hinders PS sales is that most of the producer’ customers have stopped their activities.
The large-scale social restrictions in Jakarta and surrounding areas has caused the final product to be unsold, which generate buildup and reduced revenue for manufacturers. Large factories producing home appliances have already stopped production and called for delays in the shipment of raw materials. SSESSMENTS.COM was informed that consumers from food container manufacturers are also affected by the demand that leaves only styrofoam package order, making several factories only running at 50% of the production rates or closing their plants.
According to the producer, the allocation for ABS Injection cargoes are all taken. The producer predicts that PS demand in Indonesia would not rise regardless the governement’s decision to move the Eid holiday to December. The producer then tells SSESSMENTS.COM that the company plans to move some cargoes to China and hopes that the movement restrictions will not be tightened in May.
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Tags: All Feedstocks,Asia Pacific,English,Indonesia,News,SEA,Styrene,Styrenics
Published on April 17, 2020 6:19 PM (GMT+8)Last Updated on April 17, 2020 6:22 PM (GMT+8)
