Key Indonesian producer kept spot PP, PE offers steady amid diminishing demand
Buyers are puzzled over the latest price list considering the sluggish demand conditions following the abolishment of the import quota mandate.
Over the weekend, a major producer in Indonesia reportedly opened fresh PP and PE offers to the local market at largely unchanged levels compared to the previous week, except for PP random copolymer, which rose by IDR450,000/ton. Buyers are puzzled over the latest price list considering the sluggish demand conditions following the abolishment of the import quota mandate.
The producer’s latest price list and changes compared to last week are shown in the following table:
|
Material |
Price List as of 18 Mar. 2024 |
USD Equivalent |
W.O.W Changes |
USD Equivalent |
Term |
|
Combined and reported by CommoPlast |
|||||
|
LL film |
IDR 21,460,000 |
$1,374 |
- |
- |
FD Jabodetabek |
|
mPE |
IDR 21,940,000 |
$1,404 |
- |
- |
FD Jabodetabek |
|
LL inj |
IDR 22,050,000 |
$1,411 |
- |
- |
FD Jabodetabek |
|
HD film |
IDR 21,080,000 |
$1,349 |
- |
- |
FD Jabodetabek |
|
HD yarn |
IDR 21,080,000 |
$1,349 |
- |
- |
FD Jabodetabek |
|
HD blow |
IDR 20,880,000 |
$1,337 |
- |
- |
FD Jabodetabek |
|
IPP (PP Film) |
IDR 21,940,000 |
$1,404 |
- |
- |
FD Jabodetabek |
|
PPH yarn |
IDR 21,050,000 |
$1,347 |
- |
- |
FD Jabodetabek |
|
PPH inj |
IDR 21,050,000 |
$1,347 |
- |
- |
FD Jabodetabek |
|
PP thin wall |
IDR 21,610,000 |
$1,383 |
- |
- |
FD Jabodetabek |
|
BOPP |
IDR 22,170,000 |
$1,419 |
- |
- |
FD Jabodetabek |
|
PP coating |
IDR 22,170,000 |
$1,419 |
- |
- |
FD Jabodetabek |
|
PP thermo |
IDR 21,540,000 |
$1,379 |
- |
- |
FD Jabodetabek |
|
PPRC |
IDR 22,470,000 |
$1,438 |
+IDR 450,000 |
+$29 |
FD Jabodetabek |
|
PPBC |
IDR 21,840,000 |
$1,398 |
- |
- |
FD Jabodetabek |
|
*All prices are excluded of 11% VAT *Exchange Rate: USD 1 = IDR 15,622 *Transportation Cost: West Java = IDR 60,000, Central Java & East Java = IDR 250,000 |
|||||
“The price list is just for market reference but does not reflect the actual demand condition in Indonesia. Since last week, local traders have already slashed their prices sharply to stimulate transactions,” a market source complained.
In fact, a major local trading house in Indonesia decided to cut locally held Malaysian HDPE film cargoes to below the IDR18,000,000/ton threshold, excluding VAT while homo-PP yarn nosedived below the IDR17,5000m000/ton mark. According to market sources, supply is comfortable stemming from the previous panic purchases while traders are in need of generating cashflow, leading to the price adjustment to attract buyers.