More Saudi producer lifted homo-PP prices to Indonesia

Indonesian players reported that another major Saudi Arabia producer has lifted homo-PP offers to the country by $30-40/ton compared to last month to reach $1100/ton CIF, LC AS term.

With most other regional and international suppliers claimed lack of allocation, Indonesian buyers started asking for smaller discount on deals. A converter place bid for the cargoes at $1090/ton, a $10/ton lower than initial offer commented, “Our supplier also has very small quantity this time and too much pressure on prices might discourage deal. It appears that sellers might attempt to increase offer again in the near term given the lack of cargoes.”