Major Thai maker cut PP prices to Indonesia, rollover HDPE

A major Thailand producer has opened fresh PP and PE offers to Indonesia this week at stable to softer levels compared to the last price opening. The maker cut homo-PP prices by 10/ton due to weak buying interest while maintaining PP block copolymers and HDPE unchanged.

Players in Indonesia have been reporting slower than expected demand since after the Hari Raya holidays in early July 2016. However, many expressed optimistic expectation for the near term outlook as tax amnesty program ended would bring buyers back to replenish inventories.