CommoPlast | Article - Local PP, PE market in Indonesia gallops lower as sluggish demand persists

As expected, a key Indonesian producer announced spot PP and PE offers to the domestic market with additional decreases as buyers continue to stay on the sidelines while sentiment across the region shows no signs of improvement.

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

Material	Price List as of 03 Jun. 23	USD Equivalent	W.O.W Changes	USD Equivalent	Term
*Combined and reported by CommoPlast*
LL film	IDR 16,100,000	$1,084	-IDR 100,000	-$7	FD Jabodetabek
mPE	IDR 17,830,000	$1,200	-IDR 400,000	-$27	FD Jabodetabek
LL inj	IDR 16,700,000	$1,124	-IDR 120,000	-$8	FD Jabodetabek
HD film	IDR 16,630,000	$1,119	-IDR 250,000	-$17	FD Jabodetabek
HD yarn	IDR 16,630,000	$1,119	-IDR 250,000	-$17	FD Jabodetabek
HD blow	IDR 17,450,000	$1,175	-IDR 100,000	-$7	FD Jabodetabek
IPP (PP Film)	IDR 15,800,000	$1,064	-IDR 550,000	-$37	FD Jabodetabek
PPH yarn	IDR 15,200,000	$1,023	-IDR 400,000	-$27	FD Jabodetabek
PPH inj	IDR 15,200,000	$1,023	-IDR 400,000	-$27	FD Jabodetabek
PP thin wall	IDR 15,680,000	$1,056	-IDR 450,000	-$30	FD Jabodetabek
BOPP	IDR 15,500,000	$1,043	-IDR 400,000	-$27	FD Jabodetabek
PP coating	IDR 15,500,000	$1,043	-IDR 400,000	-$27	FD Jabodetabek
PP thermo	IDR 15,500,000	$1,043	-IDR 400,000	-$27	FD Jabodetabek
PPRC	IDR 18,060,000	$1,216	-IDR 90,000	-$6	FD Jabodetabek
PPBC	IDR 17,150,000	$1,154	-IDR 700,000	-$47	FD Jabodetabek
All prices are excluded of 11% VAT Exchange Rate: USD 1 = IDR 14,855

The producer has been cutting offers for five consecutive weeks to facilitate transactions, and still, the reductions observed in the import ground and in the distribution market seem to outpace the maker’s effort.

“Forward selling homo-PP cargoes have already breached below the IDR 15,000,000/ton threshold, making the producer’s offers unattractive. We think the downtrend is likely to persist in the coming days,” said, a buyer.