Indonesian producer lifts local PET prices
The source commented, “Demand remains good in the local market and we feel that our new prices are standing at competitive levels in spite of the large price hike.”
A converter reported receiving $80-100/ton higher offers from the producer at $1150/ton FD, cash. He stated, “We found this level to be a bit high and we are planning to wait to see prices from other local producers before making our purchasing decision.”
Another buyer reported that local producers have issued increases of between $40-100/ton on their PET prices. The buyer was offered local PET at $1100/ton FD, cash by another domestic producer. “We are still not planning to replenish as we are covered for the next two months. Supplies are currently sufficient in the market,” he said.
In Indonesia, local PET bottle prices currently stand at $1060-1150/ton on an FD Indonesia, cash equivalent basis.
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