Saudi major lifted PP, PE prices to Indonesia

A major Saudi Arabia producer has up-adjusted their PP and PE offers to Indonesia compared to earlier this month, reflecting the lack of sales pressure and higher upstream cost. The following table show latest offers and changes from previous price list.

Indonesia market is rather quiet this week, with most buyers are wrapping up their purchases before departing for the holidays. An Indonesian trader commented, “Domestic market is weak at the moment and we think buyers might negotiate very hard on import cargoes, especially for homo-PP. The supplier’s hike on PE is very reasonable, however local material is also no less competitive.”