09 Aug 2024
The Indonesian import PP market continues to witness a downward trend this week as international suppliers slashed offers, ignoring the recent rebound in the local market and the uptick in nearby China. The move reflects a lack of confidence in the short-term outlook amidst a highly volatile macroeconomic environment.
09 Aug 2024
Despite the significant price cuts, buyers remained unmoved, anticipating that the downtrend would continue. The slight rebound in China has yet to have any substantial impact on buying activities in Indonesia. Nevertheless, if the upward trend in China persists, overseas sellers might resist further price reductions in Southeast Asia.
01 Aug 2024
Indeed, Indonesia and China are the only major markets in Asia experiencing increased buying activities this week, while other Asian markets continue to soften. In India, a major local producer trimmed domestic PP offers by INR 2,000/ton and withdrew the price protection scheme introduced last week.
01 Aug 2024
International suppliers continued to trim import PE offers to Indonesia this week, mirroring ongoing weakness across the Asian region. Despite a surge in local buying activities, the trading sentiment on the import front remained subdued as buyers opted for smaller quantities from domestic sellers.
26 Jul 2024
International suppliers have continued to lower their homo-PP offers to Indonesia this week. This trend is driven by the relentless downtrend in the local market and widespread weak demand conditions across the region. Transactions remain thin as buyers hold back new purchases, anticipating steeper discounts in the near future.
25 Jul 2024
Industry insiders have pointed to logistical constraints preventing Southeast Asian suppliers from shipping their cargoes to further destinations, leading to heightened competition within the region. Although suppliers have employed a dynamic price-setting strategy to attract buying interest, it has thus far only pushed buyers to the sidelines.
17 Jul 2024
