The current state of demand has urged the largest local trading house in Indonesia to amend PE PP prices with huge changes recorded for certain grades. On April 23, the trader informed SSESSMENTS.COM that the overall local and localized Southeast Asian PE, PP offers across different grades were adjusted down between IDR100,000-1,200,000/ton ($6-77/ton). For HDPE grades, the offers were lowered by IDR1,200,000/ton ($77/ton) for HDPE Blow Moulding and IDR1,100,000/ton ($70/ton) for HDPE Injection. Whereas for LLDPE Film C4, the offers declined by IDR1,000,000/ton ($64/ton). Unlike other PE grades, adjustment for LDPE Film was only as much as IDR100,000/ton ($7/ton) considering the limited availability. All price changes are on a weekly comparison.
Likewise, offers for local and localized Southeast Asian PP cargoes across different grades also recorded on a downtrend. For PP Homo Injection and PP Homo Raffia, the offers slipped by IDR200,000/ton ($13/ton). Meanwhile, offers for PP Homo Film remained stable. All on a weekly comparison. To lure buyers, the trader is willing to open negotiation based on the payment term and quantity. Further added to SSESSMENTS.COM, domestic demand for PE and PP resins in Indonesia remains sluggish amid the Coronavirus outbreak. At the moment, the trader prefers to wait on the sidelines and not in the mood to ask some inquiries or receive new offers from other suppliers.
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