Steeper reduction in local PP, PE offers in Indonesia as the week begins

Indonesian buyers are not surprised that new price list from a major local producer would see some reduction in the new week following the strengthening in the Rupiah against the US dollar and soft sentiment across the region. However, the reduction this time is much larger than expected. 

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

Local traders have been selling below this price list for a couple of weeks now given the arrival of lower costs cargoes purchased previously. “Buyers are having many choices now. Supply is no longer tight even though local makers are not operating at the regular rate,” a trader commented.