Indonesian maker lifted local PP offers, maintaining PE prices

A major domestic producer reportedly announced fresh weekly PP and PE prices on a stable to firmer note compared to last week. The latest offers see $10-11/ton hike in most of PP cargoes while players are surprised that PE sees no changes despite the recent hike in the upstream ethylene market.

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

Demand in Indonesia is weaning as the Ramadan holidays draw near and while local suppliers are pushing for higher levels, buyers have mostly expected the cyclical peak. “We have not received any new orders for the post-Ramadan term, and therefore, have no intention to replenish materials at the current market levels,” a flexible packaging converter said.