23 Mar 2021
Trading activities in the local ground remain subdued as buyers bargain for better prices.
Even at the lower prices, Indonesian buyers are not eager to make replenishment except for customers with very low inventory on-hand.
22 Mar 2021
Due to the supply tightness, the producer has to reduce the allocation to regular customers by 50%.
Sources said that the hikes, especially on PP cargoes, come a little off timing as the regional market has just started to enter a correction period.
A major local producer in Indonesia reportedly cut local spot PP prices on the first trading day of the week in a response to the weakening import ground due to lacking purchasing interest.
Transaction prices have been softer compared to the previous trading session, however, buyers remain cautious about making purchases.
Buyers are waiting for additional discounts to emerge citing the falling support from upstream costs and demand.
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