Saudi maker announced homo-PP offers to Indonesia, deals at discounts

It is reported that a major Saudi Arabia producer has announced fresh homo-PP offers to Indonesia at $1190/ton for yarn and $1230/ton for injection grade, all based on CIF, LC AS term. Buyers responded to the offers with little interest, from which discounts are provided in order to entice demand.

Deals for homo-PP injection are reported at $1170-1180/ton CIF Indonesia, LC AS term – a considerable drop from initial offers. A distributor offered on behalf of the producer added, “Demand for yarn is not very strong and we might need to concede to $10-20/ton reduction to close deals. We are having regular allocation this week.”