The local spot offers for PP have shown significant divergence, yet lower prices in the distribution market have attracted buyers, prompting a wave of replenishment activity. The narrowing premium over imports and a firmer international outlook have encouraged buyers to procure from domestic suppliers.
The Vietnam PP market remained on the stable to softer track with a limited number of new offers reported. Most South Korean suppliers were absent from the market due to the Mid-Autumn Festival and the presence of more profitable export destinations such as Latin America and Africa.
Mirroring the homo-PP sector, the PP block copolymer market is experiencing a scarcity of new offers from key overseas suppliers. Sellers of South Korean materials have remained resolute in maintaining firm spot offers to Indonesia, attributing the limited availability to a strategic diversion of cargoes to more profitable regions.
The import PE market in Indonesia is grappling with increasing supply tightness, particularly for LLDPE film, in line with regional trends. Several regional and international suppliers have reported a lack of availability for LLDPE film, heightening expectations of firmer offers in the near term.
Adding to the market tension, expectations are rising that inventory pressures among Chinese suppliers could intensify in the coming weeks. Pre-holiday replenishment activities have fallen short of expectations ahead of the Mid-Autumn Festival