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A number of Indonesian buyers in the beverage packaging sectors are eyeing opportunities to build up PET inventories in preparation for the Ramadan season. These companies believed that January and February are the best time to make new purchases as the traditional low demand season would encourage sellers to offers a larger discount than usual.

“Ramadan this year is earlier than last year. Therefore, we can’t wait until March to make replenishment. Currently, we are in negotiation to obtain an additional discount from Chinese supplier,” a converter received offers for Chinese PET bottle at $1020/ton CIF Indonesia, said.

A couple of buyers have expressed the buy ideas at below the $1000/ton threshold for Chinese cargoes, however, at the time this report is published, no deals at these prices were reported. 

“Sentiment in the Southeast Asia market is calm. The preparation for Lunar New Year is almost done. There might be a final round of purchases this week before the holiday, but we are still in the wait and see position,” a Chinese trader offering at $1000/ton FOB China added.

At the moment, import offers for PET bottle to Indonesia stand at $1020-1040/ton CIF, LC AS.

Country
Indonesia