Further PP, PE hikes from Thai producer to Indonesia
This week’s price increases followed the $20/ton hike applied on PP and $10/ton hike applied on HDPE film last week.
The producer’s offers currently stand at $1180/ton for PP raffia and injection, at $1200/ton for PP film, at $1240/ton for PP block copolymer injection and at $1190/ton for HDPE film, all on a CIF Indonesia, cash basis.
A converter in Jakarta said, “Offers for Thailand materials form the high ends of the range. We are not in a rush to replenish stocks from the import market particularly when the activities will be at a stalemate this week and next week due to the upcoming Eid holiday. We think we can source our needs from the local market for prompt delivery.”
A compounder in Banten also pointed to the Eid holiday around the corner. “Following the Brexit vote, the IDR has been devaluated against the US dollar. This significantly cut our motivation to buy from the import market."
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