Indonesian producer introduced fresh hike on local PP, PE cargoes

Domestic PP and PE offers in Indonesia continue firming up with a major domestic producer show little hesitation in introducing fresh hike on the first trading day of the week. Persistent supply crunch and multi-month highs feedstock costs are pedalling the uptrend.

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

At the meantime, buyers in the country are hit multiple times while trying to adjust to the continuous firming prices with a source said, “Distribution market witness even stronger hike this morning. We are not reacting to the increment as our end product business remains very mediocre.”