Local PET prices slide in Thailand, Indonesia
In Southeast Asia, local PET prices moved lower in Thailand and Indonesia as the market continues to struggle with sufficient supply and slower than anticipated demand growth. An Indonesian converter reported purchasing domestic PET at $850/ton FD, cash after negotiating a $10/ton discount from their supplier. “We initially placed a bid at $830/ton but eventually settled at $850/ton. Demand for our end products is not very encouraging these days and we are not purchasing beyond our immediate needs,” the buyer stated. A source from an Indonesian producer said that they maintained their offers at $900/ton FD, cash while adding that they are open to negotiations for buyers placing firm bids. In Thailand, a distributor offering domestic material at THB31000/ton ($858/ton) FD, cash stated, “Trading activity is thin as many converters have already suspended operations ahead of the New Year holidays. We believe that demand will remain limited in the coming weeks given the uncertain direction in energy markets.” A converter based in Thailand said that they purchased domestic PET at THB31250/ton ($865/ton) FD, cash. “We hear that more attractive prices are available in the market now and we plan to make our next purchase after the new year. Supply is sufficient these days,” the buyer commented. In the import market, prices were reported at $780-860/ton CIF SEA, cash equivalent basis.
Local PET prices slide in Thailand, IndonesiaIn Southeast Asia, local PET prices moved lower in Thailand and Indonesia as the market continues to struggle with sufficient supply and slower than anticipated demand growth. An Indonesian converter reported purchasing domestic PET at $850/ton FD, cash after negotiating a $10/ton discount from their supplier. “We initially placed a bid at $830/ton but eventually settled at $850/ton. Demand for our end products is not very encouraging these days and we are not purchasing beyond our immediate needs,” the buyer stated. A source from an Indonesian producer said that they maintained their offers at $900/ton FD, cash while adding that they are open to negotiations for buyers placing firm bids. In Thailand, a distributor offering domestic material at THB31000/ton ($858/ton) FD, cash stated, “Trading activity is thin as many converters have already suspended operations ahead of the New Year holidays. We believe that demand will remain limited in the coming weeks given the uncertain direction in energy markets.” A converter based in Thailand said that they purchased domestic PET at THB31250/ton ($865/ton) FD, cash. “We hear that more attractive prices are available in the market now and we plan to make our next purchase after the new year. Supply is sufficient these days,” the buyer commented. In the import market, prices were reported at $780-860/ton CIF SEA, cash equivalent basis.
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