Local PP and PE market in Indonesia extended the weakening trend
Local PP and PE market in Indonesia extended the weakening trend
A key local producer in Indonesia continues to slash spot PP and PE offers this week, under the pressure from weak demand and falling upstream costs. However, market responses remain mediocre, highlighting the lack of confidence among buyers.
The producer’s latest price list and changes compared to last week are shown in the following table:
|
Material |
Price List as of29 Nov. 21 |
USD Equivalent |
W.O.W Changes |
USD Equivalent |
Term |
|
Combined and reported by CommoPlast |
|||||
|
LL film |
IDR 20,640,000 |
$1,432 |
-IDR 130,000 |
-$9 |
FD Jabodetabek |
|
mPE |
IDR 22,540,000 |
$1,564 |
- |
- |
FD Jabodetabek |
|
LL inj |
IDR 21,640,000 |
$1,502 |
-IDR 130,000 |
-$9 |
FD Jabodetabek |
|
HD film |
IDR 19,610,000 |
$1,361 |
-IDR 210,000 |
-$15 |
FD Jabodetabek |
|
HD yarn |
IDR 19,500,000 |
$1,353 |
-IDR 350,000 |
-$24 |
FD Jabodetabek |
|
HD blow |
IDR 19,970,000 |
$1,386 |
-IDR 960,000 |
-$67 |
FD Jabodetabek |
|
IPP (PP Film) |
IDR 21,770,000 |
$1,511 |
-IDR 500,000 |
-$35 |
FD Jabodetabek |
|
PPH yarn |
IDR 21,010,000 |
$1,458 |
-IDR 500,000 |
-$35 |
FD Jabodetabek |
|
PPH inj |
IDR 20,720,000 |
$1,438 |
-IDR 930,000 |
-$65 |
FD Jabodetabek |
|
BOPP |
IDR 21,610,000 |
$1,500 |
-IDR 500,000 |
-$35 |
FD Jabodetabek |
|
PP coating |
IDR 21,610,000 |
$1,500 |
-IDR 500,000 |
-$35 |
FD Jabodetabek |
|
PP thermo |
IDR 21,180,000 |
$1,470 |
-IDR 500,000 |
-$35 |
FD Jabodetabek |
|
PPRC |
IDR 24,580,000 |
$1,706 |
-IDR 210,000 |
-$15 |
FD Jabodetabek |
|
PPBC |
IDR 22,500,000 |
$1,561 |
-IDR 640,000 |
-$44 |
FD Jabodetabek |
|
*All prices are excluded of 10% VAT *Exchange Rate: USD 1 = IDR 14,410 |
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“The nosedived crude oil market spooked Indonesian customers. It is very likely that domestic sellers would continue to lower offers in the coming days, hence, it is better to wait unless there is an urgent need,” a buyer added.
Brent crude settled down $9.50, or 11.6% on Friday, 26 November 2021 at $72.72/barrel while WTI loses $10.24, or 13.1% to reach $68.15/barrel on the fear over the new vaccine resistance COVID-19 strain and swelling supply ahead.
“By right, we should see more end-product orders before the production costs become higher in 2022 due to the increase in electricity tariff and labour costs, which eventually would be transferred to selling prices. Yet, everyone is so quiet,” another manufacturer added. The source is operating using on-hand stocks.