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Morning Briefing - 09 June 2026SCG Chemicals significantly reduced its stake in PT Chandra Asri Pacific in early June, offloading shares across four trading sessions on the IDX in a transaction worth approximately IDR 14.1 trillion. |
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CommoPlast
Morning Briefing
09 June 2026
Brent: $94.25 (+ $1.16)
WTI: $91.30 (+ $0.76)
Naphtha CFR Japan: á
Ethylene CFR NEA: á
Ethylene CFR SEA: á
Propylene FOB Korea: Stable
Propylene CFR China: Stable
*Data represent closing prices of the previous trading day
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Chandra Asri shares absorb pressure as SCGC executes major stake reduction
SCG Chemicals significantly reduced its stake in PT Chandra Asri Pacific in early June, offloading shares across four trading sessions on the IDX in a transaction worth approximately IDR 14.1 trillion. Sale prices declined through the disposal period as the market absorbed the block. SCGC retains a meaningful position and remains a strategic anchor shareholder alongside PT Barito Pacific and Thaioil, with the three collectively holding the majority of the company. The transaction broadens Chandra Asri's public free float, improving liquidity and supporting compliance with Indonesian capital market requirements.
Read full story:
SCG Chemicals divests IDR 14.1 trillion in Chandra Asri shares, cuts stake to 15.71%
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Converters on the sidelines as Indonesia's PE and PP markets drift lower
Indonesia's major producer cut PE prices for a tenth straight week as upstream costs continue to falter faster than domestic lists can follow, leaving buyers firmly on the sidelines and conversion plants with thinning order books heading into mid-June. The feedstock correction driving the move is considered not transient, and the gap between where resin is priced and where buyers believe it should be is widening.
PP is telling a similar story through a different mechanism as an attempt to hold list prices flat has run into a wall of cheaper imports and buyers’ restraint, with most in the market anticipating a sharper correction is simply being deferred. Trading activity across both chains remains constrained.
Read full story:
Indonesian major issued 10th PE price cut as ethylene falls
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