Indonesian producer introduces further cuts on local PP, PE prices

A major Indonesian producer has announced new PP and PE offers to local buyers with $10/ton reduction on most of the PP and HDPE grades. While this is in line with the recent strengthening of the Indonesian Rupiah against the US dollar, buyers here are not showing the excitement.  

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

“We have comfortable inventories for the year-end and we would like to wait on the sideline for a while. Market is not having the push to rebound,” a buyer commented.