SSESSMENTS.COM’s data showed that import Vietnam PP Homo Raffia offers to Indonesia is shifting in line with offers for Chinese cargoes. On the week commencing February 3, direct offers for PP Homo Raffia from a Vietnamese producer stood at $1,040/ton, while from Indonesia’s largest local trading house stood between $1,040-1,050/ton, all on LC at sight, CIF Indonesia Main Port basis. Based on SSESSMENTS.COM’s data, no deals were concluded last week.
Moving to the week commencing February 10, an Indonesian trader informed on receiving offers for import PP Homo Raffia of Vietnam origin at $1,050/ton with the same payment and delivery term, with done deals achieved at $10/ton lower than the initial offer level. However, as the week progressed, offers for the Vietnamese PP Homo Raffia cargoes to Indonesia dropped to $1,020/ton-level, SSESSMENTS.COM noted. Despite the reduction, a converter who received the offers remain disincentivised from purchases. Citing that buying cargoes at this time is risky since there are still many uncertainties as China market has not fully resumed.
Further added, market sources told that Indonesian buyers were placing bids for Vietnamese PP Homo Raffia cargoes at $970-990/ton-level. However, at the time of publication, there is no further information received by SSESSMENTS.COM. In terms of outlook, Indonesian market sources opined that import PP Homo Raffia offers still have room to move lower in the days to come as the overall demand remains slow owing to the Coronavirus issue.
Tags: Asia Pacific,China,English,EN PP INDONESIA NSS,EN PP SEA NSS,Indonesia,NewsSSESSMENTS,Polypropylene (PP),Southeast Asia,Vietnam Indonesia PP Prices,PP Homo Raffia Prices,Vietnamese PP cargoesFebruary 12, 2020 8:17 PM