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It is reported that a major domestic producer in Indonesia has announced new PP and PE price list for the second time this week with additional $10/ton increased on all grades. Weakening Indonesian Rupiah plays an important role in the latest hike, sources said. 

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

A number of converters in the flexible packaging sector reported having stocked up comfortable inventory until late July and started to slow down purchasing activities this week as prices go up. “And yet, we are not seeing the peak. If the Indonesian Rupiah continues to depreciate, we think producers would again increase the offers, especially at the current dynamic of the energy complex,” a major trader commented.