Up-trend in local Indonesia unsustainable, domestic maker slashes PP, PE offers

A major domestic producer in Indonesia has been attempting to introduce price increment to local buyers over the past week, however, receive little support from buyer’s side. As a result, the maker steps back on the latest PP and PE offers with hope to attract better buying interest.

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

Though there have been signs of improved end product orders, especially from the flexible and food packaging sector, buyers remain cautious about making fresh replenishment. Players continue to receive more competitive offers from the distribution market, which discourages acceptance for producer’s list prices.