10 Oct 2023
Similar to other petrochemical sectors in Indonesia, buying interest is sapped by the weak economic growth and the rapid depreciation of the Rupiah against the US dollar.
Opinions are that without substantial support, namely persistently rising crude oil prices or more economic stimulus from the government, the domestic PP and PE offers might decline further.
Market participants become more reluctant to proceed with new purchases on renewed concerns over the macroeconomic outlook.
09 Oct 2023
As China returns from the weeklong National Day holiday, Zhongjing Petrochemical continues to cut export PP offers given the persistently weak overseas demand and the nosedived crude oil market recently.
An Indonesian producer announced a fresh PP and PE price list over the weekend with additional increases, fetching support from the depreciating Rupiah against the US dollar while demand shows no signs of improvement.
09 Oct 2023 SPVC k67-68 SPVC (A) k67-68
The rebounded crude oil prices failed to uplift sentiment given the fact that players have widely expected further reductions ahead.
As the Chinese market returns from the weeklong National Day holiday, at least three international suppliers announced official LLDPE film price lists at lower levels compared to late September.
Don't have an account? Register