Major Thai maker cuts PP prices to Indonesia, maintains HDPE

According to market sources, a major Thailand producer has announced fresh PP and HDPE prices to Indonesia right after the Eid al Adha holidays. The maker reportedly reduces offers for homo-PP yarn and injection and PP block copolymers by $10/ton compared to last week while rolling over PP film and HDPE prices.

Detailed price list and changes are shown in the following table:

Despite the reduction, it is reported that demand in Indonesia is really slow at the moment, from which a major local producer has also reduced their prices by approximate $20/ton today. A buyer informed, “We are really surprised with such price cut as supply is tight here. Our local suppliers are actively calling us these few days, however, we have already replenish sufficient material. We prefer to monitor the market further though it appears to us that market has hit the peak.”