Local producer cuts PP prices, maintains PE unchanged in Indonesia

It is reported that a major producer in Indonesia has announced fresh weekly offers to local buyers with IDR130,000-140,000/ton ($10/ton) reduction on PP cargoes while maintaining PE prices unchanged.

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

Trading activities in local Indonesia market has yet to witness any drastic improvement and apparently the producer’s price list attracts little buying interest. “We are waiting for new offers from traders as distribution market has been giving discounts for three weeks in a row. End product business for woven bags sector is weak and we fear this condition might persist in the near term,” a buyer said.