Indonesia PP discussions limited; market players stay on sidelines

20 April 2016 11:38 Source:ICIS News

SINGAPORE (ICIS)--Import discussions in Indonesia’s polypropylene (PP) market are limited, with most market players staying on the sidelines awaiting a clearer price direction, industry sources said on Wednesday.

Most Middle East and ASEAN suppliers have yet to offer May shipments.

Converters preferred to buy on a hand-to-mouth basis from local traders, to cover their weekly spot requirement, a trader said.

“Most of my customers are holding comfortable inventory levels,” an Indonesian trader said.

A dutiable Indian PP flat yarn cargo for May shipment was traded at $1,070/tonne (cost & freight) Indonesia, at sight.

A few offers for non-dutiable ASEAN PP origin were heard early in the week.

On 15 April, PP flat yarn (all origins) was assessed at $1,070-1,170/tonne CFR Indonesia, according to ICIS data.

By Johanna Truong