Jun 13, 2024 5:51 a.m.

Local PP, PE market extended the firming trend in Indonesia, exchange rates in focus.

Besides the strong upstream costs, the depreciating Rupiah against the US dollar also justified the latest hikes, market sources said.

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A key local producer in Indonesia continued to lift spot PP and PE offers over the weekend, shrugging off the rising resistance from buyers that has been causing sluggish trading sentiment over the past weeks. Besides the strong upstream costs, the depreciating Rupiah against the US dollar also justified the latest hikes, market sources said.

The producer’s latest price list and changes compared to last week are shown in the following table: 

Material

Price List as of 18 Sept. 23

USD Equivalent

W.O.W Changes

USD Equivalent

Term

Combined and reported by CommoPlast

LL film

IDR 18,200,000

$1,185

+IDR 90,000

+$6

FD Jabodetabek

mPE

IDR 19,850,000

$1,292

+IDR 400,000

+$26

FD Jabodetabek

LL inj

IDR 18,800,000

$1,224

+IDR 90,000

+$6

FD Jabodetabek

HD film

IDR 18,690,000

$1,217

+IDR 320,000

+$21

FD Jabodetabek

HD yarn

IDR 18,690,000

$1,217

+IDR 320,000

+$21

FD Jabodetabek

HD blow

IDR 19,110,000

$1,244

+IDR 550,000

+$36

FD Jabodetabek

IPP (PP Film)

IDR 18,040,000

$1,174

+IDR 80,000

+$5

FD Jabodetabek

PPH yarn

IDR 17,040,000

$1,109

+IDR 80,000

+$5

FD Jabodetabek

PPH inj

IDR 17,040,000

$1,109

+IDR 80,000

+$5

FD Jabodetabek

PP thin wall

IDR 17,580,000

$1,144

+IDR 80,000

+$5

FD Jabodetabek

BOPP

IDR 17,730,000

$1,154

+IDR 80,000

+$5

FD Jabodetabek

PP coating

IDR 17,730,000

$1,154

+IDR 80,000

+$5

FD Jabodetabek

PP thermo

IDR 17,350,000

$1,129

+IDR 80,000

+$5

FD Jabodetabek

PPRC

IDR 19,040,000

$1,239

+IDR 160,000

+$10

FD Jabodetabek

PPBC

IDR 18,780,000

$1,222

+IDR 470,000

+$31

FD Jabodetabek

*All prices are excluded of 11% VAT

*Exchange Rate: USD 1 = IDR 15,363

*Transportation Cost: West Java = IDR 60,000, Central Java & East Java = IDR 250,000

 

Trades are thin on the first day of the week. Indonesian buyers from both the PP and PE markets remained on the sideline due to falling finished goods orders for the fourth quarter of the year. As reported earlier, a number of converters even offered on-hand raw materials stocks to the spot market claiming better margins.

“The HDPE market enjoys support from supply tightness, however, with more cargoes scheduled to arrive to the market in the next several weeks, the upward momentum might lose steam. Sales are slow,” a trading house commented.

Country

Indonesia