Domestic PP, PE market galloped lower in Indonesia
Following a brief attempt to keep the local market stable, a key domestic producer in Indonesia continued to down-adjust spot PP and PE offers lower over the weekend on heightened competition
Following a brief attempt to keep the local market stable, a key domestic producer in Indonesia continued to down-adjust spot PP and PE offers lower over the weekend on heightened competition from the distribution market while buyers shy away from fresh replenishments amid falling finished goods demand.
The producer’s latest price list and changes compared to last week are shown in the following table:
|
Material |
Price List as of 25 Mar. 23 |
USD Equivalent |
W.O.W Changes |
USD Equivalent |
Term |
|
Combined and reported by CommoPlast |
|||||
|
LL film |
IDR 18,350,000 |
$1,209 |
-IDR 310,000 |
-$20 |
FD Jabodetabek |
|
mPE |
IDR 19,890,000 |
$1,311 |
- |
- |
FD Jabodetabek |
|
LL inj |
IDR 19,040,000 |
$1,255 |
-IDR 310,000 |
-$20 |
FD Jabodetabek |
|
HD film |
IDR 18,420,000 |
$1,214 |
-IDR 470,000 |
-$31 |
FD Jabodetabek |
|
HD yarn |
IDR 18,420,000 |
$1,214 |
-IDR 470,000 |
-$31 |
FD Jabodetabek |
|
HD blow |
IDR 18,660,000 |
$1,229 |
-IDR 460,000 |
-$30 |
FD Jabodetabek |
|
IPP (PP Film) |
IDR 19,010,000 |
$1,253 |
-IDR 150,000 |
-$10 |
FD Jabodetabek |
|
PPH yarn |
IDR 18,230,000 |
$1,201 |
-IDR 160,000 |
-$11 |
FD Jabodetabek |
|
PPH inj |
IDR 18,230,000 |
$1,201 |
-IDR 160,000 |
-$11 |
FD Jabodetabek |
|
PP thin wall |
IDR 19,010,000 |
$1,253 |
-IDR 150,000 |
-$10 |
FD Jabodetabek |
|
BOPP |
IDR 18,540,000 |
$1,222 |
-IDR 160,000 |
-$11 |
FD Jabodetabek |
|
PP coating |
IDR 18,540,000 |
$1,222 |
-IDR 160,000 |
-$11 |
FD Jabodetabek |
|
PP thermo |
IDR 18,770,000 |
$1,237 |
-IDR 160,000 |
-$11 |
FD Jabodetabek |
|
PPRC |
IDR 20,440,000 |
$1,347 |
- |
- |
FD Jabodetabek |
|
PPBC |
IDR 19,470,000 |
$1,283 |
- |
- |
FD Jabodetabek |
|
*All prices are excluded of 11% VAT *Exchange Rate: USD 1 = IDR 15,177 *Transportation Cost: West Java = IDR 60.000, Central Java & East Java = IDR 250.000 |
|||||
Pre-marketing homo-PP and LLDPE film cargoes from the new Malaysian plant have been showing up consistently in the local market for weeks, at way more attractive price levels. Even in the distribution market, where offers are always lower than the producer’s price list, traders suffer from fierce negotiation and lacklustre buying interest.
“The preparations for Ramadan season are more or less done. Converters in the packaging sector started to see sharp declines in new PO, hence, we expect the downtrend to persist moving forward,” said, a trader.
Meanwhile, players also monitor closely the state of demand in the near-by China market to gauge the cyclical bottom before making fresh purchases.