Local PP, PE market in Indonesia red-bath on demand, currency issues

A major Indonesian producer introduces fresh cuts on PP and PE offers to local buyers, sending the market deeper into the red zone. While sources are blaming the appreciation of the Indonesian Rupiah against the US dollar for such price trend, many others are pointing to the fact that improving supply and soft demand plays a central role here.

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

“The LLDPE film availability is rather ample in the local ground. Many deep-sea cargoes including those originated from Indian and USA have arrived and hamper domestic ground. Buyers are having a wide variety of selection now,” a trader commented.