Malaysian PP and PE for July loading slumped in Indonesia

Indonesian buyers reported having received fresh PP and PE offers for July loading from a major Malaysian producer with large reductions from the previous month, on the back of sluggish demand in this market and the general trend across the region.

The maker’s latest price list and changes month on month are shown in the following table:

Indonesian buyers have been refraining from making new purchases as a flare-up of COVID-19 infection cases has put several major cities into strict movement control with looming blanket lockdown on the horizon. 

“End product demand is not great. We are sourcing hand to mouth in the local market because prices are much more competitive. We think the producer must concede another $50/ton discounts in order to attract buyers in Indonesia,” a market source commented.