Domestic producer introduces steep cuts on PP cargoes in Indonesia, PE unchanged
Domestic producer introduces steep cuts on PP cargoes in Indonesia, PE unchanged
Indonesian customers reported having received fresh PP and PE offers from a key domestic producer with sharp reductions on homo-PP grades, while PE holds largely unchanged week-on-week. Sources said that the persistently weak demand and the recent corrections in the import ground are attributed to the latest price reductions.
The producer’s latest price list and changes compared to last week are shown in the following table:
Material |
Price List as of06 Dec. 21 |
USD Equivalent |
W.O.W Changes |
USD Equivalent |
Term |
Combined and reported by CommoPlast |
|||||
LL film |
IDR 20,640,000 |
$1,422 |
- |
- |
FD Jabodetabek |
mPE |
IDR 22,540,000 |
$1,553 |
- |
- |
FD Jabodetabek |
LL inj |
IDR 21,640,000 |
$1,491 |
- |
- |
FD Jabodetabek |
HD film |
IDR 19,610,000 |
$1,351 |
- |
- |
FD Jabodetabek |
HD yarn |
IDR 19,500,000 |
$1,343 |
- |
- |
FD Jabodetabek |
HD blow |
IDR 19,970,000 |
$1,376 |
- |
- |
FD Jabodetabek |
IPP (PP Film) |
IDR 20,480,000 |
$1,411 |
-IDR 1,290,000 |
-$89 |
FD Jabodetabek |
PPH yarn |
IDR 19,710,000 |
$1,358 |
-IDR 1,300,000 |
-$90 |
FD Jabodetabek |
PPH inj |
IDR 19,570,000 |
$1,348 |
-IDR 1,150,000 |
-$79 |
FD Jabodetabek |
BOPP |
IDR 20,320,000 |
$1,400 |
-IDR 1,290,000 |
-$89 |
FD Jabodetabek |
PP coating |
IDR 20,320,000 |
$1,400 |
-IDR 1,290,000 |
-$89 |
FD Jabodetabek |
PP thermo |
IDR 19,890,000 |
$1,370 |
-IDR 1,290,000 |
-$89 |
FD Jabodetabek |
PPRC |
IDR 24,290,000 |
$1,673 |
-IDR 290,000 |
-$20 |
FD Jabodetabek |
PPBC |
IDR 21,930,000 |
$1,511 |
-IDR 570,000 |
-$39 |
FD Jabodetabek |
*All prices are excluded of 10% VAT *Exchange Rate: USD 1 = IDR 14,515 |
Indonesian customers remain indifferent about the price adjustment, claiming that the cuts are very much expected, however, offers in the import market and the distribution ground are way more competitive.
“Trading sentiment is soft as buyers prefer to wait for further movement in the import market. The downward pressure is strong even though domestic availability is not high because of the delay in import arrivals. The near-term outlook is not optimistic,” a trader commented.
As reported earlier, the year-end demand season failed to pick up as strongly as market players have hoped since the government announced movement restrictions to curb the spread of COVID-19 infection. End-product buyers are not in the mood to place new orders while expecting raw material prices might drop further.