Local PP, PE offers in Indonesia continue to weaken

A major local producer in Indonesia reportedly introduces fresh price cuts on HDPE and PP cargoes on the first trading day of the week as demand remains sluggish while the Indonesian Rupiah continue appreciating against the US dollar.

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

There have been reports that trading activities in the local ground are rather calm in recent days despite the continuous price cut over the past several weeks. “We have comfortable inventories on hand now. We need to wait for further reduction before making replenishment to balance the higher costs cargoes purchased previously,” a converter informed.