Third price adjustment in a week from major Indonesian PP, PE maker

Indonesian buyers have received the third price adjustment this week for PP and PE from a major local producer as the Indonesian Rupiah continue to depreciate against the US dollar. The latest price hike elevates both PP and PE prices by additional IDR150,000/ton ($10/ton from the previous offers on 2 October.

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

The Indonesian Rupiah fell to the lowest level in two decades and might weaken further as the USA Federal Reserve implement additional rate hike. Buyers are rather concern. As reported earlier, a number of manufacturers have already stocked up comfortable stock until the end of the year in anticipation that local prices would only increase due to the exchange rate. 

Meanwhile, demand for HDPE film started to pick up, sources said while LLDPE market remains sluggish in the presence of import materials.