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Following the cuts in international market, local suppliers in Indonesia decided to adjust offers for November deliver PVC cargoes down by $40-50/ton from last month despite satisfactory demand condition. Local prices currently stand at $920-970/ton without VAT, FD Indonesia, cash term.

A producer commented, “Thanks to resilient property market, demand from the pipe and profiles sector remains good. However, with the recent drop in import market, local buyers only willing to make purchases at similar reduction range.”

Local traders reiterated the condition citing that government is speeding up projects, in line with the scheduled budget. “However, we fear that demand might be slower toward the end of the year, hence we are not keeping too high stock at the moment,” a trader added.