Print

Indonesian players reported that couple of domestic suppliers have announced new PET offers this week with additional IDR100,000/ton ($7.5/ton) increased from last week. This trend has been in place since before the Ramadan holidays as is expected to continue in the coming week.

A converter received offer at IDR14,100,000/ton ($1053/ton) FD Indonesia, cash term said, “Our end product demand is weak as most buyers just come back from Ramadan and new orders could take a little longer to come. Our suppliers informed of limited availability, therefore we only purchase a small quantity.” 

Another buyer received offers for 60 days payment term at IDR14,700,000/ton ($1098/ton) FD Indonesia, however refused to accept the hike and turn to import market to meet the requirement. 
Domestic suppliers are planning to implement further hike in the coming week with tight supply and firm upstream costs to be the main support. “International suppliers are following the same trend, though we think the up-side might be limited since demand is not supporting,” a producer added.