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After couple of weeks with strong focus on redirecting homo-PP cargoes to Vietnam; Chinese traders are now putting attention to Indonesia given waning buying interest in the previous re-export destination. In fact, Indonesian buyers toward the end of the week reported receiving increasing number of offers for re-export homo-PP from China.

Origin available including Saudi Arabia, Russia, USA an India priced at the range $1130-1150/ton CIF Indonesia, LC AS term. A buyer commented, “Non-dutiable cargoes are also offered lower this week and we think that market still has room for further downward adjustment. More re-export cargoes emerged in Indonesia means that demand in other major regional markets is weakening. We prefer to hold conservative stance in the coming days.”