Domestic producer cuts PP prices in Indonesia, maintains PE unchanged

A major domestic producer in Indonesia has announced fresh offers to the local market at IDR140,000-150,000/ton ($10/ton) lower for PPcargoes while holding PE prices unchanged week on week. 

The reduction in PP offers comes as a result of the persistently weak demand condition while there are forward selling cargoes for August delivery at much lower prices, sources said.

“In the meantime, trading activities for LLDPE film is still active due to the lack of supply. We have not been able to achieve good sales results for other grades given that most of our customers are adopting a wait-and-see stance,” a trader commented. 

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