- An Indonesian PP producer reported to SSESSMENTS.COM on adjusting local offers following the weakening Rupiah against US Dollar. In comparison to last week, the latest offers for PP Homo Raffia from the producer’s end increased between IDR1,210,000-1,330,000/ton ($75-82/ton), slightly higher than the leading Indonesian polyolefins producer’s price adjustment since the producer is about to shut their PP plant. Pertaining to demand, the domestic market is quiet due to intensified spreads of the Coronavirus in the country.
- Whereas in Thailand, a trader informed SSESSMENTS.COM that local offers for PP Homo Raffia from the company’s end went down as much as THB1,000/ton ($30/ton) on a weekly comparison. Demand-wise, Thailand PP market reported remains quiet amid the intensified Coronavirus fears. The country is still waiting for the government’s regulation regarding the prevention of the virus. However, the demand for end-products, such as food, beverages and health needs slightly increases. For the outlook, the trader opined that the market will remain bearish onwards as more buyers will be waiting on the sidelines for another round of price reduction.
