Indonesian producer surprisingly softened stance on spot PP, PE offers amid rising import market
Indonesian producer surprisingly softened stance on spot PP, PE offers amid rising import market
Indonesian market participants earlier this week reported having received fresh weekly PP and PE offers from a key domestic producer at stable to softer levels from the previous price announcement despite the rising import offers from international suppliers.
The producer’s latest price list and changes compared to last week are shown in the following table:
|
Material |
Price List as of21 Jan. 23 |
USD Equivalent |
W.O.W Changes |
USD Equivalent |
Term |
|
Combined and reported by CommoPlast |
|||||
|
LL film |
IDR 18,200,000 |
$1,207 |
- |
- |
FD Jabodetabek |
|
mPE |
IDR 19,130,000 |
$1,268 |
- |
- |
FD Jabodetabek |
|
LL inj |
IDR 18,900,000 |
$1,253 |
- |
- |
FD Jabodetabek |
|
HD film |
IDR 18,390,000 |
$1,219 |
-IDR 510,000 |
-$34 |
FD Jabodetabek |
|
HD yarn |
IDR 18,390,000 |
$1,219 |
-IDR 510,000 |
-$34 |
FD Jabodetabek |
|
HD blow |
IDR 19,080,000 |
$1,265 |
-IDR 520,000 |
-$34 |
FD Jabodetabek |
|
IPP (PP Film) |
IDR 19,520,000 |
$1,294 |
- |
- |
FD Jabodetabek |
|
PPH yarn |
IDR 18,740,000 |
$1,242 |
- |
- |
FD Jabodetabek |
|
PPH inj |
IDR 18,740,000 |
$1,242 |
- |
- |
FD Jabodetabek |
|
PP thin wall |
IDR 19,370,000 |
$1,284 |
- |
- |
FD Jabodetabek |
|
BOPP |
IDR 19,210,000 |
$1,274 |
- |
- |
FD Jabodetabek |
|
PP coating |
IDR 19,210,000 |
$1,274 |
- |
- |
FD Jabodetabek |
|
PP thermo |
IDR 19,290,000 |
$1,279 |
- |
- |
FD Jabodetabek |
|
PPRC |
IDR 20,620,000 |
$1,367 |
- |
- |
FD Jabodetabek |
|
PPBC |
IDR 19,990,000 |
$1,325 |
+IDR 390,000 |
+$26 |
FD Jabodetabek |
|
*All prices are excluded of 10% VAT *Exchange Rate: USD 1 = IDR 15,084 |
|||||
While the latest price list was criticized for causing disruption in the distribution market, players speculated that the producer was attempting to lure customers back to the local ground as the previously aggressive price hikes push many buyers to the import market.
“Besides, sellers are waiting for further development once China returns from the weeklong Lunar New Year holidays to determine the pricing trend. The latest adjustment might be temporary,” a market source added.
In the distribution market, traders are complaining of a drastic drop in purchasing activities and a couple of trading houses started to offer minor discounts on both PP and PE parcels to encourage demand.