After China, PP cargoes from new plant in Malaysia show up in Indonesia

Malaysia’s Lotte Chemical Titan started the commercial run at its newly constructed PP line (PP3) in mid of July and on-spec cargoes are now offered to Indonesia market following the emergence in China last month. 

Indonesian buyers reported receiving offers for these cargoes at $1260-1270/ton CIF Indonesia, LC AS term for both yarn and injection grade. Respond is not very great, sources said, as the offers emerge at the time that the Indonesian Rupiah is at the lowest point in nearly two-decade against the US dollar.

“Meanwhile, Vietnamese cargoes are available at lower levels. Demand for non-dutiable materials are not very strong at the moment unless there are larger discounts to compensate the exchange rate,” a buyer commented.