Thai major down-adjusted PP and HDPE prices to Indonesia

It is reported that a major Thailand producer has announced fresh weekly prices to Indonesia with $10-20/ton lower than previous offering. Players attributed such reduction to the persistent weak demand condition in the country.

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

In spite of the lower offering prices, buyers are negotiating very hard for larger discount, and in fact couple of deals for homo-PP was reported at $90/ton below the price list level, touching $1120/ton CIF Indonesia, LC AS term. Indonesian market players are expecting more of bearish outlook in weeks ahead pointing to the monsoon season, which dampens buying interest.