Traders lifted local homo-PP prices in local Indonesia

According to Indonesian players, domestic traders have lifted homo-PP prices by $20-30/ton compared to last week on the back of limited availability, to reach $1210-1230/ton for yarn and $1250-1260/ton for injection, FD Indonesia, cash term.

A convert purchased the cargoes at $1215/ton FD Indonesia, cash term said, “We are not having many choices at the moment as even overseas suppliers are not very active in giving new offers. The shutdown at one of the major domestic PP plant might deprive the supply condition further in the near term.”

Besides, players are seeing a shortage of PP film in local Indonesia market and several major traders reportedly suspended offering for this grade. A trader informed, “We have sold out our available PP film cargoes earlier this week and currently stopped offering. We only have a very small quantity from import market, but prefer to hold as buffer stock.”