Asia Daily PP and PE Overview – 15 January 2019

SOUTHEAST ASIA 

·      Indonesian buyers showed increased appetite for duty-free PP cargoes 

·      PE offers hold stable on soft purchasing interest 

Polypropylene (PP)

More Indonesian buyers are seeking import homo-PP cargoes from non-dutiable origins with several deals for Vietnamese cargoes reported at $1090-1100/ton CIF Indonesia, for second half of February loading.

“These price levels are very competitive compared to local market. This might trigger domestic sellers to step back on the prices, but we do not expect any major price reduction,” a buyer commented.  

Polyethylene (PE)

There have not been many new offers for import PE to Southeast Asia, including USA materials. Players are rather skeptical about a possible rebound in February shipment offers, citing the cloudy post Lunar New Year outlook.

Players are waiting for overseas sellers to open new offers.