Thai maker cuts PP, HDPE offers to Indonesia

A major Thailand producer has announced weekly PP and PE offers to Indonesia with $20-30/ton reduction from the last price announcement during mid of March. This is in line with the previous report regarding Southeast Asian producers raising intention to down-adjust prices to Indonesia given persistent sluggish demand condition in this market.

The producer’s price list is shown in the following table:

Demand in Indonesia remains sluggish from which deals for HDPE film from the producer emerged at $90/ton below the price list at $1490/ton CIF Indonesia, LC AS term. “We are still negotiating with buyers on deals for homo-PP cargoes, though it seems like local cargoes are stealing all the spotlight at the moment,” a source close to the producer said.