Local PP and PE in Indonesia increase visibly on the exchange rate
Local PP and PE in Indonesia increase visibly on the exchange rate
Spot offers for both PP and PE from a major local producer in Indonesia increased drastically on the first trading day of the week as a result of the steep depreciation of the local currency against the US dollar.
The producer’s latest price list and changes compared to last week are shown in the following table:
|
Material |
Price List as of 23 Mar. 20 |
USD Equivalent |
W.O.W Changes |
USD Equivalent |
Term |
|
Combined and reported by CommoPlast |
|||||
|
LL film |
IDR 13,400,000 |
$833 |
+IDR 620,000 |
+$39 |
FD Jabodetabek |
|
LL inj |
IDR 14,940,000 |
$929 |
+IDR 620,000 |
+$39 |
FD Jabodetabek |
|
HD film |
IDR 14,200,000 |
$883 |
+IDR 930,000 |
+$58 |
FD Jabodetabek |
|
HD yarn |
IDR 14,200,000 |
$883 |
+IDR 930,000 |
+$58 |
FD Jabodetabek |
|
HD blow |
IDR 14,130,000 |
$878 |
+IDR 930,000 |
+$58 |
FD Jabodetabek |
|
IPP (PP Film) |
IDR 15,490,000 |
$963 |
+IDR 620,000 |
+$39 |
FD Jabodetabek |
|
PPH yarn |
IDR 14,870,000 |
$924 |
+IDR 620,000 |
+$39 |
FD Jabodetabek |
|
PPH inj |
IDR 14,870,000 |
$924 |
+IDR 620,000 |
+$39 |
FD Jabodetabek |
|
BOPP |
IDR 15,280,000 |
$950 |
+IDR 620,000 |
+$39 |
FD Jabodetabek |
|
PP coating |
IDR 15,280,000 |
$950 |
+IDR 620,000 |
+$39 |
FD Jabodetabek |
|
PP thermo |
IDR 15,000,000 |
$932 |
+IDR 620,000 |
+$39 |
FD Jabodetabek |
|
PPRC |
IDR 17,100,000 |
$1,063 |
+IDR 620,000 |
+$39 |
FD Jabodetabek |
|
PPBC |
IDR 16,000,000 |
$995 |
+IDR 780,000 |
+$48 |
FD Jabodetabek |
|
*All prices are excluded of 10% VAT *Exchange Rate: USD 1 = IDR 16,086 |
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Based on OANDA data, the Indonesian Rupiah has depreciated about 7.8% in the span of one (1) week, reaching IDR16,086 as of 23 March 2020. However, purchasing interest remains very sluggish, as buyers have either completed replenishment or having low confidence in the near-term outlook.
“The market fundamental is weak. The fasting month is around the corner while the Covid-19 outbreak adds more uncertainties to the already dull sentiment. We prefer to be cautious,” a market source informed.