Local PP, PE offers in Indonesia announced with additional hike

As the Indonesian Rupiah continues to depreciate against the US dollar, domestic supplier faces the pressure to lift offers to cover production costs. The latest price list from a major local maker sees addition IDR150,000/ton ($10/ton) increased from late last week. 

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

The hike is much in line with market expectation, however, purchasing interest seems diminishing. Converters are complaining about the inability to transfer higher raw material costs to the end product prices with a source said, “We are consuming on-hand inventories and might only purchase hand to mouth when necessary,” a woven bag maker added.