Indonesian PP market extended the weakening trend; PE held steady.
While the weaker US dollar has a role in the latest price decision, sources believed that the cuts are inevitable considering the fact that import offers
A key local producer in Indonesia resumed cutting spot PP offers in the latest weekly price announcement amid immense downward pressure caused by sluggish demand and the persistently falling import market.
The producer’s latest price list and changes compared to last week are shown in the following table:
|
Material |
Price List as of 04 Nov. 23 |
USD Equivalent |
W.O.W Changes |
USD Equivalent |
Term |
|
Combined and reported by CommoPlast |
|||||
|
LL film |
IDR 18,700,000 |
$1,192 |
- |
- |
FD Jabodetabek |
|
mPE |
IDR 20,380,000 |
$1,299 |
- |
- |
FD Jabodetabek |
|
LL inj |
IDR 19,300,000 |
$1,230 |
- |
- |
FD Jabodetabek |
|
HD film |
IDR 19,440,000 |
$1,239 |
- |
- |
FD Jabodetabek |
|
HD yarn |
IDR 19,440,000 |
$1,239 |
- |
- |
FD Jabodetabek |
|
HD blow |
IDR 19,780,000 |
$1,261 |
- |
- |
FD Jabodetabek |
|
IPP (PP Film) |
IDR 17,630,000 |
$1,124 |
-IDR 460,000 |
-$29 |
FD Jabodetabek |
|
PPH yarn |
IDR 17,160,000 |
$1,094 |
-IDR 220,000 |
-$14 |
FD Jabodetabek |
|
PPH inj |
IDR 17,160,000 |
$1,094 |
-IDR 220,000 |
-$14 |
FD Jabodetabek |
|
PP thin wall |
IDR 17,710,000 |
$1,129 |
-IDR 220,000 |
-$14 |
FD Jabodetabek |
|
BOPP |
IDR 17,400,000 |
$1,109 |
-IDR 460,000 |
-$29 |
FD Jabodetabek |
|
PP coating |
IDR 17,400,000 |
$1,109 |
-IDR 460,000 |
-$29 |
FD Jabodetabek |
|
PP thermo |
IDR 17,320,000 |
$1,104 |
-IDR 220,000 |
-$14 |
FD Jabodetabek |
|
PPRC |
IDR 19,210,000 |
$1,225 |
-IDR 300,000 |
-$19 |
FD Jabodetabek |
|
PPBC |
IDR 19,130,000 |
$1,220 |
-IDR 300,000 |
-$19 |
FD Jabodetabek |
|
*All prices are excluded of 11% VAT *Exchange Rate: USD 1 = IDR 15,685 *Transportation Cost: West Java = IDR 60,000, Central Java & East Java = IDR 250,000 |
|||||
While the weaker US dollar has a role in the latest price decision, sources believed that the cuts are inevitable considering the fact that import offers for non-dutiable cargoes have fallen sharply in recent days.
“We expect additional decreases moving forward, otherwise, buyers would just source more attractive cargoes from the import market. Besides, forward-selling parcels in the distribution market are also relatively attractive,” a buyer commented.
Meanwhile, responses toward the PE offers are not too optimistic, especially for LLDPE film. As reported earlier, the presence of locally held Malaysian LLDPE film cargoes at attractive prices weighs heavily on the market while encouraging buyers to place aggressive bids on other parcels.