Malaysian producer lifted July PP offers to Indonesia, keep PE unchanged

It is reported that a major Malaysian producer has announced July shipment offers for PP and PE to Indonesia. The latest price list indicated $50-60/ton hike on PP cargoes from last month while PE is unchanged.

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

The price decision for PP is very much opposed to the current development in the regional import market, which might face strong resistance in Indonesia. “Domestic suppliers are forward selling July delivery cargoes at IDR18,900,000/ton ($1333/ton) without VAT, FD Indonesia, cash equivalent for yarn grade, making it very difficult for import cargoes to compete. We prefer to source local material at the moment,” a market source informed.