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Indonesian buyers reported having received fresh offers from a major Malaysian producer for August shipment with a large reduction on PP cargoes while PE mostly endures small cuts. 

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

The latest prices reflected the state of demand and supply clearly for each grade in the country, however, the initial response from market remains disappointed. Several buyers have expressed the buy ideas for HDPE cargoes at below $1500/ton threshold, following the recent adjustment from Thailand and Singaporean producers. 

“In the meantime, we would prefer to source PP cargoes in the local ground to avoid currencies risk,” a buyer commented.