Saudi major lifted homo-PP offers to Indonesia

A major Saudi Arabia producer has announced fresh offers for import homo-PP to Indonesia on the first trading day of the week with $20/ton hike from last week, reaching $1090/ton CIF Indonesia, LC AS term. Buyers have not responded to the latest offer at the time this report is published.

An international trader offered on behalf of the producer informed, “We are having regular allocation this time though buyers might resist this level given competitive Southeast Asian origins and local cargoes. We are monitoring market respond before taking any decision.”