Indonesian major maintained spot PP, PE offers on a firm note amid limited availability
Meanwhile, trading sentiment in the Indonesian market remains subdued, as buyers adopt a cautious approach in response to a strengthened Rupiah and a sharp decline in crude oil prices.
Over the weekend, a leading Indonesian producer announced fresh PP and PE offers at stable to firmer levels, citing limited supply following a recent month-long shutdown. Meanwhile, trading sentiment in the Indonesian market remains subdued, as buyers adopt a cautious approach in response to a strengthened Rupiah and a sharp decline in crude oil prices.
The producer’s latest price list and changes compared to last week are shown in the following table:
|
Material |
Price List as of 07 Sept. 2024 |
USD Equivalent |
W.O.W Changes |
USD Equivalent |
Term |
|
Combined and reported by CommoPlast |
|||||
|
LL film |
IDR 18,160,000 |
$1,179 |
+IDR 40,000 |
+$3 |
FD Jabodetabek |
|
mPE |
IDR 20,680,000 |
$1,343 |
- |
- |
FD Jabodetabek |
|
LL inj |
IDR 18,660,000 |
$1,212 |
+IDR 40,000 |
+$3 |
FD Jabodetabek |
|
HD film |
IDR 17,850,000 |
$1,159 |
+IDR 110,000 |
+$7 |
FD Jabodetabek |
|
HD yarn |
IDR 17,850,000 |
$1,159 |
+IDR 110,000 |
+$7 |
FD Jabodetabek |
|
HD blow |
IDR 18,500,000 |
$1,202 |
+IDR 120,000 |
+$8 |
FD Jabodetabek |
|
IPP (PP Film) |
IDR 18,600,000 |
$1,208 |
- |
- |
FD Jabodetabek |
|
PPH yarn |
IDR 17,250,000 |
$1,120 |
- |
- |
FD Jabodetabek |
|
PPH inj |
IDR 17,250,000 |
$1,120 |
- |
- |
FD Jabodetabek |
|
PP thin wall |
IDR 17,880,000 |
$1,161 |
- |
- |
FD Jabodetabek |
|
BOPP |
IDR 17,600,000 |
$1,143 |
+IDR 30,000 |
+$2 |
FD Jabodetabek |
|
PP coating |
IDR 17,600,000 |
$1,143 |
+IDR 30,000 |
+$2 |
FD Jabodetabek |
|
PP thermo |
IDR 17,730,000 |
$1,152 |
- |
- |
FD Jabodetabek |
|
PPRC |
IDR 20,980,000 |
$1,363 |
+IDR 360,000 |
+$23 |
FD Jabodetabek |
|
PPBC |
IDR 19,530,000 |
$1,268 |
+IDR 120,000 |
+$8 |
FD Jabodetabek |
|
*All prices are excluded of 11% VAT *Exchange Rate: USD 1 = IDR 15,397 *Transportation Cost: West Java = IDR 60,000, Central Java & East Java = IDR 250,000 |
|||||
According to market sources, the producer has restarted its petrochemical complex after an unexpected technical issue forced the plant offline in late July. However, the current operating rates remain unclear, leaving the market uncertain about the availability of products in the near term.
“The producer has started to clear some backlogs for PP, which has slightly eased local supply constraints, but the availability of LLDPE remains limited. It may take more time before the supply situation normalizes,” commented a distributor.
The Indonesian Rupiah has been steadily appreciating against the US dollar after reaching historical lows in June, prompting intervention from the Indonesian Central Bank. Over the past 30 days, the Rupiah has strengthened by 3.1%, leading commodity buyers to adopt a wait-and-see stance, anticipating further price declines in the face of a fluctuating currency and volatile crude oil markets.
Written by: Henny Sunarto
Edited by: Rochelle Nguyen