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A major Malaysian producer has announced fresh PP and PE offers for March shipment to Indonesia with up to $100/ton hike from February. Strong upstream costs and persistent tight availability are the main factors supporting such aggressive price decision.

Latest price list and changes are shown in the following table:

However, it appears that buying interest in Indonesia remains pretty slow and buyers are very much in favor of domestic cargoes. “We do expect to see some discounts on deals, especially on HDPE, given the recent drastic cut in local distribution market,” a source commented.