Malaysian major implemented large hike on February HDPE cargoes to Indonesia

Indonesian buyers on the first trading day of the week reported to have received February shipment offers for both PP and PE from a major Malaysian maker. Latest price list witness a drastic increase on HDPE cargoes, thanks to prolong supply shortage while LDPE offers have remained unchanged fro three months in a row.

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

Market sources are expecting buyers to accept the latest hike on HDPE cargoes given the fact that domestic offers based on FD Indonesia, cash equivalent have reached nearly $1600/ton, creating a large gap with import offers.