Chinese makers maintain import PET offers stable to firm to Indonesia

Couple of Chinese PET producers has announced new import PET offers to Indonesia this week at stable to $40/ton firmer, reaching $1070-1075/ton, CIF Indonesia, LC 0-90 days term. Buying interest appears to be improving as the monsoon ended, stimulating demand from the beverage sector.

A converter received offers at $1075/ton, CIF Indonesia, LC 90 days term said, “Demand is healthy as the weather is warming now. However, we are very cautious about the quantity import from China as the final decision on antidumping duties has yet to finalise.”

Several other converters confirmed better orders for end product businesses and are planning to procure additional quantity of material. “It appears that Chinese suppliers are not facing much sales pressure wit the traditional high demand season from the polyester sector is just around the corner. Prices might continue to firm up in the coming weeks, and we plan to talk to local producers too to obtain some quantities,” a brand owner commented.

Indonesia has extended the antidumping investigation on import PET from China, South Korea and Malaysia to January 2018 after the first finding faced heavy criticism during  public hearing. Buyers are looking to stock up materials before the implementation taking place, which might cause higher raw material costs.