Buyers: domestic PP sold at attractive prices in Indonesia
A woven bag manufacturer who purchased domestic raffia at $1050/ton FD added, “We are seeing good end product demand these days as a few of our competitors have exited the business, although we are only able to conclude deals domestically and are struggling to conclude export sales. We are purchasing in small amounts on a fairly regular basis as we feel that prices have not yet reached the bottom.”
Another converter active in the packaging sector reported purchasing domestic raffia and injection at $1020/ton FD, cash. “We were able to get a good price from our supplier as we agreed to purchase 500 tons of material. We prefer to meet our needs from the local market these days due to the rapid depreciation of the rupiah, which has sunk to around 14,200 to the dollar,” the buyer stated.
Domestic homo-PP injection and raffia prices came down $30-80/ton on the week to be quoted at $1020-1115/ton FD Indonesia, cash equivalent basis.
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