Thai PP and HDPE moved higher in Indonesia

A Thailand producer has announced fresh weekly prices to Indonesia on the first trading day of the week with increases from the last opening.

The producer’s latest price list are shown in the following table:

Market sources attributed the continuous price hike from the producer for four weeks in a row to the limited supply condition, stemming from the on-going plant shutdown. However, buyer’s respond toward the latest offers is not so positive. A market source informed, “Demand in Indonesia is very weak since most buyers are suffering from this profit margins amid rising raw material costs and weak end product business. Our customers are very inactive, and together with the plunging propylene cost in Southeast Asia, we think prices might head for correction soon.”