South Korean maker step back on weekly PP prices in Indonesia

It is reported that a South Korean producer has stepped back on August shipment offers for PP to Indonesia by $5-10/ton compared to last week, as demand in the country remains sluggish at the moment.

The producer’s latest offers and week-on-week changes are shown in the following table:

A number of Indonesian buyers have expressed the lack of interest in making replenishment from the import market at the moment amid the availability of highly competitive local cargoes. 

“The domestic traders are pushing cargoes out very aggressively. Buyers might find it less encouraging in procuring material from overseas sellers. The sentiment is very sluggish,” a market source commented.