An Indonesian trader contacted by SSESSMENTS.COM informed on carrying out price adjustments for local and localized PE, PP cargoes despite a muted market. This week, the trader’s latest offers for localized Thai PE as well as local PP cargoes captured on an upward trend. For PE, localized LDPE Film and LLDPE Film C4 of Thailand origin edged higher by IDR200,000/ton($14/ton). Meanwhile, offers for localized Thai HDPE Film were hiked by IDR300,000-400,000/ton ($21-27/ton). Similarly, the trader’s local offers for PP Homopolymer grades raised by IDR300,000/ton ($21/ton). All compared to last week’s level.
No further information revealed to SSESSMENTS.COM regarding the reasons behind the upward adjustments. In fact, the trader stated that the overall demand for both PE and PP in the domestic market is considered sluggish at the moment. Particularly for PP, the trader is unable to conclude any deals as most converters already finished with replenishment activities. Besides, market talks have it that their competitor is selling PP cargoes at way lower than the trader’s offers. Hence, the trader is wondering if their offers are deemed too high.
Further added to SSESSMENTS.COM, this week, the trader also received offers from a Vietnamese producer. The trader was asked by the producer to offer PP cargoes at IDR15,900,000/ton ($1,100/ton)-level. However, since such a level is deemed unworkable in the Indonesia market, the trader decided not to take the cargoes.
