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For the second month in a row, a key Malaysian producer slashes PP and PE offers to Indonesia substantially as a result of the persistently weak demand condition and the general downtrend observed across Asia.

The producer’s latest price list and changes month on month are shown in the following table:

In spite of the three digits price cuts, Indonesian customers remain reluctant toward the homo-PP parcels, citing the presence of other non-dutiable cargoes at more competitive levels. 

“Other cargoes are in line with the current market levels, however, we expect some discounts on deals. Meanwhile, buyers might put more pressure on the LDPE film cargoes this time,” a market source said. 

In fact, in the previous week, deals for Indian LDPE film have been reached at $1590/ton with 5% import duty, which spurred expectations that non-dutiable origins would be priced near to the $1650/ton mark in order to entice demand. 

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Indonesia  Malaysia