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Indonesian players reported to have received higher PET offers from one of the major domestic producers this week despite softening international markets and visible slow demand. The latest price indicated $60/ton hike to reach $1040/ton FD Indonesia, cash term.

A buyer received the offers commented, “Other producers are offering slightly lower but with more attractive payment term. We decided to source some quantity from other supplier to meet the immediate need. With upstream costs seem softening, we believed that market would resist any attempt to increase prices.”

Local PET prices in Indonesia are reported at IDR13,900,000-14,000,000/ton ($1030-1040/ton, without VAT, cash term.