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Indonesian players reported to have received new PVC offers from a major domestic producer with $80/ton reduction month on month basis, hitting $910-970/ton FD Indonesia, cash term. It appears that Indonesian buyers are not very active in making replenishment despite the large reduction, claiming weak end product business.

A pipe manufacturer said, “The Ramadan season is just around the corner and our end product business might decline further, hence we are not planning to make large purchases this time.”

Producer on the other hand hoping that firmer upstream costs would encourage international sellers to maintain new offers on the stable track, which would provide some support to local ground. A producer source added, “We are waiting for Taiwanese major to announce July offers and we hope to see more of stable trend. Demand in local Indonesia might only improve in July, hence we are not expecting any significant rebound in the near term.”