Saudi maker rollover PP offers to Indonesia, concluded with minimal discount

A major Saudi Arabia producer has announced import homo-PP offers to Indonesia at unchanged levels compared to before Ramadan, at $1070/ton CIF Indonesia, LC AS term. Despite stiff resistance from buyers, who have been asking for steep discount, the supplier refused to cut prices too deep. Several deals have been reported at only $5/ton reduction from initial offers, at $1065/ton with the same term.

A distributor offered on behalf of the producer informed, “We have very small allocation this time and we prefer to hold firm on the cargo. Firmer local ground is stimulating the general situation and we hope to see continued improvement in the near term.”