Local PP market in Indonesia extended firming trend, PE hold steady

A major domestic producer in Indonesia has announced fresh PP and PE offers to local buyers at the stable to firmer levels compared to last week. Sources attributed the hike to the recent weakening of the Indonesian Rupiah against the US dollar, however, feel a little surprise on the price decision for PE.

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

“Demand for PE cargoes remains healthy in spite of the political instability. Many of our customers are operating at full rate to meet Ramadan demand and therefore, we are very optimistic about the near-term outlook,” a trader said.