- A Thai trader reported to SSESSMENTS.COM that export offers for PP Homo Raffia from a Thai producer to Vietnam market decreased by $20/ton from a week earlier, stand at $900/ton on LC at sight, CIF Vietnam Main Port basis. Initially, some buyers submitted bids at $20/ton lower from the initial offer level. However, the bids were rejected by the producer and done deals were concluded at $5/ton lower from the initial offer level. The trader added that their Vietnamese customers are still running production as normal. Although the demand is slowing down due to the Coronavirus outbreak, they still managed to sell some volume of their finished-products.
- An Indonesian trader informed SSESSMENTS.COM that the trader’s offers for local PP Homo Raffia cargoes increased by IDR1,000,000/ton ($62/ton) from last week following the upward adjustment made by the leading polyolefins producer in the country. Initially, the trader is offering in cash basis. However, after some negotiation with the regular customers, done deals were concluded at the initial offer level at IDR15,200,000/ton ($940/ton) on 30 days credit term, FD Indonesia basis, and excluding 10% VAT. The trader added that their sales are slowing down as some of their customers reduce operating rate.
