Local HDPE offers skyrocketed in Indonesia

It is reported that a major Indonesian producer has introduced drastic increases of $60/ton on HDPE cargoes to local market in the latest price announcement. Buyers in the country are astonished by the move considering the current demand condition. “We have done purchases for the year and currently away for holiday. We are unable to accept the latest prices,” a buyer commented.

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

Many buyers in Indonesia are leaving their desks for Christmas and New Year holidays, indicating a limited trading activities week ahead. Sources are speculating that the latest price increments purely act as a gateway bringing market to a new year at the high side. “As to so, we think it is less likely buyers would accept deals at price list,” a source commented.