Local PP, PE prices in Indonesia fell for first time in sixteen weeks

A major domestic producer in Indonesia cuts local PP and PE prices for the first time in sixteen weeks with LLDPE film faces the deepest plunge. Market sources are blaming the persistent weak buying interest for the softening trend.

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

Indonesian buyers are surprised with the price cuts citing the limited HDPE supply condition while also raising concern over the near term outlook. “Trading activities might become slower as buyers withdraw to the sideline waiting for additional price reduction,” a trader commented.

Another market source informed, “The producer might be attempting to deplete some stock ahead of the year-end book closing, hence the downward pressure is there. We prefer to hold wait and see stance as end product businesses are weakening due to monsoon season.”