Local PET prices see fresh drops in Indonesia
A source from a local producer reported that they reduced their local PET prices in order to revive buying interest. The source stated, “Buyers are delaying their purchases in anticipation of seeing additional decreases. We are open to negotiations on our current offers even after our most recent reductions. We think that local prices may see further drops as Chinese and Indian materials are being offered at quite competitive levels in the import market.” The producer’s offers are currently standing at $990-1020/ton FD, cash.
A converter reported that they purchased some local PET cargoes from the same producer at $985/ton FD Indonesia, cash. “We made a small scale purchase to cover our urgent needs from the producer, who was open to negotiations for further discounts depending on our purchase volume. Demand is slower compared to last month while the Indonesian rupiah keeps depreciating against the US dollar. We expect to see additional decreases in the coming days,” the buyer commented.
In Indonesia, local PET prices are currently reported at a range of $985-1030/ton on an FD, cash equivalent basis. According to ChemOrbis Price Index, this range shows decreases of $20-45/ton when compared to last week.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Supply constraints spark stronger PE trend than PP in global markets
- ABS, PS uptrend falters in China after H1 2020 ends at multi-month highs
- Stats: China’s total PP imports spike in May; Vietnam and India’s rising shares shine out
- Tight supply drives HDPE, LLDPE gains in Southeast Asia
- European PE markets set for 2nd bullish month on rising costs
- Turkey’s PP and PE markets propelled to a firm start to H2 despite vulnerable conditions
- Asian PVC sees V-shaped recovery in Q2, what will Q3 bring?
- Will capacity additions cast cloud on ethylene upsurge in Asia?
- US PVC offers in Egypt rise steadily but resistance grows in tandem
- PE buyers’ resistance grows in SEA; duty-free origins more competitive than Mid-East