Indonesian producer reversed price cut decision on spot PP cargoes
On 20 January 2024, an equipment malfunction led to combustion at the fire stack belonging to the producer at the Cilegon complex. The incident was contained, however, the impact on the plant has not been disclosed.
A brief price cut on spot homo-PP introduced by a key domestic producer in Indonesia over the weekend did not take effect as the maker quickly reversed the decision following a flare at the plant that might impact the supply.
The producer’s latest price list and changes compared to last week are shown in the following table:
|
Material |
Price List as of 22 Jan. 2024 |
USD Equivalent |
W.O.W Changes |
USD Equivalent |
Term |
|
Combined and reported by CommoPlast |
|||||
|
LL film |
IDR 20,080,000 |
$1,288 |
- |
- |
FD Jabodetabek |
|
mPE |
IDR 21,210,000 |
$1,360 |
- |
- |
FD Jabodetabek |
|
LL inj |
IDR 20,660,000 |
$1,325 |
- |
- |
FD Jabodetabek |
|
HD film |
IDR 19,720,000 |
$1,265 |
- |
- |
FD Jabodetabek |
|
HD yarn |
IDR 19,720,000 |
$1,265 |
- |
- |
FD Jabodetabek |
|
HD blow |
IDR 19,970,000 |
$1,281 |
- |
- |
FD Jabodetabek |
|
IPP (PP Film) |
IDR 21,510,000 |
$1,379 |
+IDR 470,000 |
+$30 |
FD Jabodetabek |
|
PPH yarn |
IDR 20,650,000 |
$1,324 |
+IDR 470,000 |
+$30 |
FD Jabodetabek |
|
PPH inj |
IDR 20,650,000 |
$1,324 |
+IDR 470,000 |
+$30 |
FD Jabodetabek |
|
PP thin wall |
IDR 21,180,000 |
$1,358 |
+IDR 470,000 |
+$30 |
FD Jabodetabek |
|
BOPP |
IDR 21,760,000 |
$1,395 |
+IDR 470,000 |
+$30 |
FD Jabodetabek |
|
PP coating |
IDR 21,760,000 |
$1,395 |
+IDR 470,000 |
+$30 |
FD Jabodetabek |
|
PP thermo |
IDR 21,130,000 |
$1,355 |
+IDR 470,000 |
+$30 |
FD Jabodetabek |
|
PPRC |
IDR 20,980,000 |
$1,345 |
+IDR 470,000 |
+$30 |
FD Jabodetabek |
|
PPBC |
IDR 20,800,000 |
$1,334 |
+IDR 470,000 |
+$30 |
FD Jabodetabek |
|
*All prices are excluded of 11% VAT *Exchange Rate: USD 1 = IDR 15,594 *Transportation Cost: West Java = IDR 60,000, Central Java & East Java = IDR 250,000 |
|||||
On 20 January 2024, an equipment malfunction led to combustion at the fire stack belonging to the producer at the Cilegon complex. The incident was contained, however, the impact on the plant has not been disclosed. There have been speculations among market participants that the maker might have lower operating rates at the PP units, leading to the upward price revision on the first trading day of the week.
“Regardless of the adjustment, trading sentiment continues to deteriorate. Buyers have stocked up comfortably for both PP and PE, hence, having no urge to pursue fresh purchases,” said, a trader.
In the previous week, domestic trading houses started to reduce their PP and PE offers amid stiff resistance from buyers. Market participants closely monitor the plant's operating status to gauge the impact on the supply.