Indonesian PP buyers: Import prices still have room to fall
Another woven bag manufacturer said that they purchased Saudi Arabian raffia at $1250/ton CIF, cash while adding that they received an offer for a non-dutiable Southeast Asian origin at $1330/ton with the same terms. “We are willing to purchase the Southeast Asian origin if our supplier lowers their prices to around $1300/ton. We believe that demand for raffia will pick up over the next month or so due to some upcoming government tenders, although we are in no rush to purchase extra cargoes for now as we are satisfied with our stock levels,” the converter commented.
A plastic cup manufacturer said that they received an offer for Saudi Arabian raffia at $1250/ton CIF. “We can obtain cheaper offers for an Indian origin, but we find the quality of the Saudi material to be superior. Demand for our end products is normal for now and we believe that PP prices still have some room to move lower,” the converter added.
Import prices for homo-PP injection and raffia currently stand at $1225-1330/ton CIF Indonesia, cash equivalent basis.
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