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Indonesian players reported to have received fresh weekly PP and PE offers from a major domestic producers with increases observed on PP cargoes after large reduction seen in the previous price announcement. In contrast, LLDPE continue to journey lower with limited sign of improving demand condition.

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

A number of buyers have made replenishment in the previous week as distribution market slashed homo-PP prices to as slow as IDR17,500,000/ton ($1270/ton) without VAT, FD Indonesia, cash equivalent. As a result, the latest upward adjustment from the producer sends buyers to the sideline, with a source commented, “End product demand is very slow and we are not very confident that buyers would accept the hike. We prefer to stay cautious for now.”