Malaysian maker cuts November PP, PE offers to Indonesia

It is reported that a major Malaysian producer has announced November shipment offers for PP and PE to Indonesia with reduction from the previous month. This is in line with the softening trend observed across the regional market due to weaker upstream costs and soft demand.

Latest price list and changes are shown in the following table:

Demand in Indonesia is weak primarily due to the competitive local market. Despite limited availability, local traders in Indonesia have been offering discounts to smoothen sales process as converters are reluctant to make fresh purchases amid slow end product busineses. “We are able to obtain PP thermoforming in domestic market at $1250/ton FD Indonesia, 30 days payment term, which is cheaper than the latest offers from Malaysian maker. Orders for our end product is very low,” a converter said.