Market players were also confused by the absence of Thailand material this week. Several buyers attempted to request spot quantity, but the producer declined because of the production issue that forced the supplier to cut even contract allocations.
There has been mild panic buying in Indonesia as a key local producer is not the only supplier, who continuously lifted the price list but all other traders. The concern is that import arrivals might curtail as overseas sellers prefer to focus on China market.
Improved end product demand coupled with the firming international market keep purchasing activities in the domestic ground rolling. Although the extent of price increment is smaller than PP, traders mostly reported satisfactory sales results throughout the week.
The import homo-PP market in Indonesia tracks a firming trend this week, supported by the absence of Middle Eastern and Chinese suppliers while demand continues to recover from the pandemic regionwide. Most suppliers are in no mood to negotiate for discounts.
In the local ground, more movements are observed in the distribution market. The lack of prompt LLDPE and LDPE film cargoes resulted in large hikes on these grades, though buyers portrayed stiff resistance and started looking for alternatives.