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Indonesian producer reduces local PET prices

by ChemOrbis Editorial Team -
  • 07/07/2015 (11:27)
A source from an Indonesian producer reported that they implemented decreases on their local PET prices in the face of lower import offers. “Despite our recent reduction, demand is still disappointing as most buyers are not active in the market due to the approaching holidays,” the source stated.

With the new regulations on Indonesia’s local currency which came into effect as of July 1, the producer has started to offer on both dollar and rupiah basis while the source stated that they use a daily adjusted exchange rate. The producer’s new local PET offers stand at $1070-1080/ton FD, cash and at IDR14,284,500-14,418,000/ton with the same terms. On dollar terms, their new prices indicate decreases of $20-30/ton from last week.
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