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Local PE market in Indonesia edged upward; PP held steady amid weak demandDespite these adjustments, the Indonesian market has largely remained unresponsive to the latest offers. Buyers appear to have completed their restocking activities and are now adopting a wait-and-see approach, which underscores a lack of urgency in the market. |
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The Indonesian local PE market inched slightly higher following a new price announcement from a major local producer, which implemented minor increments on spot PE offers in response to a firming international market. In contrast, PP prices remained unchanged as the producer sought to navigate the ongoing sluggish demand conditions.
Despite these adjustments, the Indonesian market has largely remained unresponsive to the latest offers. Buyers appear to have completed their restocking activities and are now adopting a wait-and-see approach, which underscores a lack of urgency in the market.
The producer’s latest price list and changes compared to last week are shown in the following table:
|
Material |
Price List as of 04 Nov. 2024 |
USD Equivalent |
W.O.W Changes |
USD Equivalent |
Term |
|
Combined and reported by CommoPlast |
|||||
|
LL film |
IDR 17,690,000 |
$1,122 |
+IDR 170,000 |
+$11 |
FD Jabodetabek |
|
mPE |
IDR 20,390,000 |
$1,293 |
- |
- |
FD Jabodetabek |
|
LL inj |
IDR 18,560,000 |
$1,177 |
+IDR 200,000 |
+$13 |
FD Jabodetabek |
|
HD film |
IDR 17,300,000 |
$1,097 |
+IDR 80,000 |
+$5 |
FD Jabodetabek |
|
HD yarn |
IDR 17,860,000 |
$1,132 |
- |
- |
FD Jabodetabek |
|
HD blow |
IDR 18,600,000 |
$1,179 |
- |
- |
FD Jabodetabek |
|
IPP (PP Film) |
IDR 18,780,000 |
$1,191 |
- |
- |
FD Jabodetabek |
|
PPH yarn |
IDR 17,350,000 |
$1,100 |
- |
- |
FD Jabodetabek |
|
PPH inj |
IDR 17,350,000 |
$1,100 |
- |
- |
FD Jabodetabek |
|
PP thin wall |
IDR 17,900,000 |
$1,135 |
- |
- |
FD Jabodetabek |
|
BOPP |
IDR 17,690,000 |
$1,122 |
- |
- |
FD Jabodetabek |
|
PP coating |
IDR 17,690,000 |
$1,122 |
- |
- |
FD Jabodetabek |
|
PP thermo |
IDR 17,760,000 |
$1,126 |
- |
- |
FD Jabodetabek |
|
PPRC |
IDR 20,880,000 |
$1,324 |
- |
- |
FD Jabodetabek |
|
PPBC |
IDR 19,540,000 |
$1,239 |
- |
- |
FD Jabodetabek |
|
*All prices are excluded of 11% VAT *Exchange Rate: USD 1 = IDR 15,771 *Transportation Cost: West Java = IDR 60,000, Central Java & East Java = IDR 250,000 |
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As previously reported, the regional landscape is grappling with tighter LLDPE film supply due to reduced availability from key Middle Eastern suppliers, compounded by ongoing production disruptions in Southeast Asia. Still, an unexpected one-week shutdown of an Indonesian LLDPE plant last week did not trigger panic buying among local buyers, highlighting a measured response to supply constraints.
“The market is exceptionally quiet. Traders have been trying to adjust offers to account for high restocking costs, but actual transactions remain limited,” noted a local trader.
Indonesian buyers continue to take a cautious stance on new purchases, closely monitoring the outcomes of the US election and potential economic stimulus measures from China. This prevailing lethargy is expected to persist throughout the week, as market participants await clearer signals regarding future market directions.
Written by: Henny Sunarto
Edited by: Rochelle Nguyen
Country
Indonesia
