Malaysian major announced June PP, PE offers to Indonesia at stable to firmer levels

A major Malaysian producer reportedly announced June shipment offers for PP and PE to Indonesia on the first trading day of the week on the stable to firmer notes. Sources were expecting larger increases, especially for PE cargoes, given the current tightness in the local ground.

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

“In the meantime, the maker’s homo-PP yarn and injection offers are rather competitive compared to other Southeast Asian suppliers. There might be a small room for negotiation,” a buyer commented.

It has been heavily speculated that Malaysian producers might put more effort to deplete quantity in the near term given slower local demand due to uncertainty after the general election and the Ramadan season. However, prices might not witness any significant drop, especially with the revival in purchasing appetite among Chinese buyers.