Saudi major lifted homo-PP prices to Indonesia

Indonesian buyers today report to have received fresh homo-PP offers from a major Saudi Arabia producer with $40/ton hike from last month, reaching $1110/ton CIF Indonesia, LC AS term. Allocation to this market appears to be normal, players said.

A buyer commented on the new offers, “Import prices are firming up too speedy while domestic market remains mostly unchanged. Our Thailand suppliers claimed sold out their quantity while Philippines producer only can meet 30 per cent of our required quantity. We are considering to purchase additional cargoes from local sellers since prices might continue to firm up further in the near term.”