Malaysian producer slashes May PP offers to Indonesia, maintain PE stable

A major Malaysian producer has reportedly announced May shipment offers to Indonesia with three digits reduction in PP cargoes while maintain PE prices unchanged on the back of lacking availability.

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

In spite of the steep price cuts for homo-PP yarn cargoes, Indonesian buyers continue to portray the reluctant stance claiming the availability of other cargoes at more competitive price levels. 

Meanwhile, there have been reports that many PP thin wall buyers have secured the quantities on a contract basis, easing sales pressure on suppliers in the spot market.

“The producer does not offer any HDPE cargoes this month, however, the demand in Indonesia is not very strong due to the ban on interstate travels during the Ramadan holiday that curb end product demand,” a buyer added.