The largest local trading house in Indonesia informed SSESSMENTS.COM that most converters in Jakarta, Bogor, Depok, Tangerang, and Bekasi (Jabodetabek) have been preparing to shut production due to large-scale social restriction in Jakarta. This week, offers for local and localized Southeast Asian PE, PP cargoes dropped significantly. Offers for HDPE Film and HDPE Blow Moulding decreased by IDR900,000/ton ($55/ton) and IDR600,000/ton ($37/ton), respectively. However, the trader is willing to sell HDPE Film cargoes at IDR13,400,000/ton ($827/ton) the lowest considering the slow market. While for HDPE Injection, notable adjustment recorded with a total reduction of IDR1,000,000/ton ($62/ton). Likewise, offers for LLDPE Film C4 cargoes declined by IDR500,000/ton ($31/ton). Meanwhile, offers for localized Malaysian LDPE Film remain unchanged. All changes on a weekly comparison
As for PP, offers for local and localized Southeast Asian PP Homo Raffia and PP Homo Injection decreased by IDR700,000/ton ($43/ton). While for PP Homo Film cargoes, the offers dropped by IDR1,000,000/ton ($62/ton). All on a weekly comparison. In the import market, PP Homo Raffia cargoes from the leading Malaysian polyolefins producer are available at $800/ton on LC at sight, CIF Indonesia Main Port basis. The trader opined to SSESSMENTS.COM that the current market condition would persist. As such, the trader is not interested to take any cargoes at the moment.
