Indonesian major slashed local HDPE and PP offers

A major Indonesian producer has announced fresh offers to local buyers with IDR130,000-140,000/ton ($10-11/ton) reduction from last week for HDPE and PP cargoes. The maker however, maintaining LLDPE prices unchanged for two weeks in a row amid limited availability. A source close to the company informed, “Our LLDPE production has been interrupted by unforeseen electricity supply issues. At the moment, we are unsure of the restart schedule and supply to both contract and spot market is affected. Therefore, we plan to hold firm on our cargoes in the near term. Buying interest in local ground remain sluggish, yet we do hope that the impending Ramadan preparation could boost demand.”   

The latest price list is shown in the following table.