Local PET prices move lower in Indonesia
A converter reported purchasing some local PET at $840/ton on an FD Indonesia, cash basis. He commented, “Local prices are currently more competitive than offers for Chinese materials. We believe that prices will witness additional reductions in the days ahead as crude oil costs are significantly lower.”
A source from a local producer also stated, “We concluded a deal at $860/ton FD, cash. However, this level is too low to cover our production costs.”
In Indonesia, local PET prices are currently reported at $840-860/ton on an FD, cash equivalent basis. According to data from ChemOrbis Price Index, the range indicates decreases of $20-50/ton when compared to the previous week.
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