23 Nov 2020
However, the differential in the price hike between the two grades might indicate the diverse supply and demand situation.
Meanwhile, buyers are becoming more reluctant to accept the latest hike in PP offers, which could indicate another week of sluggish sentiment in Indonesia.
It is important to note that import PP and PE to China in the month of September 2020 hit record high level while local production also climbed higher.
Transactions are strong this morning though the lower end of homo-PP and LLDPE prices attracted most of the buying interest.
The lack of inventory pressure amid the traditionally high demand season encourages sellers to implement further increases on both PP and PE offers.
20 Nov 2020
This is the second price adjustment this week on the back of strong inquiries from customers.
The number of cargoes available for auction has reduced compared to the previous trading day, which supports the higher auction prices.
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