Import PP block copolymer to Indonesia see a price boost

In line with the general firming trend which spread across Asia region in recent weeks, a number of overseas suppliers have introduced fresh hike on import PP block copolymer cargoes to Indonesia this week, citing tightening supply and strong upstream costs.

Prices below the $1300/ton threshold are not repeated this week and except for Thailand cargoes emerged at $1300/ton CIF Indonesia, LC AS term, both Singaporean and South Korean materials have jumped to $1350-1390/ton with the same term.

A buyer commented, “We attempted to bid for last week’s level [at $1270/ton] for South Korean cargoes, however, the supplier rejected claiming good sales to other markets. We have no choice but to procure some quantity at the current market levels.”

A major Thailand maker, whose offers currently stand at the lower end of the overall price range is planning to lift offers in the coming week, too, though yet to achieve satisfactory sales this week. “Our regular customers are taking time to consider new purchases. However, we think further increment is very likely in the near term,” the source added.