A trader in Indonesia contacted by SSESSMENTS.COM’s team revealed the reason behind the spread of local and localized PP prices. On a weekly comparison, the company has adjusted up the offers for PP Homo Film, PP Homo Injection, and PP Homo Raffia of local and localized Vietnam cargoes between IDR200,000-300,000/ton ($14-20/ton). Offers for local PP cargoes from the trader is currently at and above IDR14,000,000/ton ($947/ton)-threshold level. Meanwhile, offers for localized PP Homo Injection and PP Homo Raffia of Vietnam origin stand between IDR200,000-400,000/ton ($14-27/ton) lower than the local materials as the supply is ampler compared to local cargoes.
The trader further explained that demand for PP Homo Injection is the weakest among other PP grades. In contrast, demand for PP Homo Film reported viable as supported by healthy sales from the food packaging sector. The overall demand for PP resins is still slow as trading activities have not fully resumed after Eid Al-Fitr holiday. Most market players will be back to their desks by next week, some converters even planning to resume the production activities in the middle or end of June, SSESSMENTS.COM was told.
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Local/localized PP offers on cash, FD Indonesia basis (excluding 10% VAT in all terms)
Tags: Asia Pacific,English,Indonesia,News,PP,SEA
Published on May 29, 2020 4:53 PM (GMT+8)
