Indonesian producer lowers local PE, PP offers
In the latest move, the supplier lowered PE offers by IDR450,000/ton ($32/ton) and IDR430,000/ton ($31/ton) for LLDPE film and injection to IDR16,970,000/ton ($1203/ton) and IDR18,460,000/ton ($1308/ton) respectively; and by IDR370,000/ton for HDPE film to IDR17,250,000/ton ($1223/ton) - all on FD Indonesia, cash basis.
For PP, it reduced prices by IDR750,000/ton (53/ton) for homo-PP film as well as raffia and injection to IDR20,150,000/ton ($1428/ton) and IDR19,800,000/ton ($1403/ton) respectively.
The producer also lowered offers by IDR660,000/ton ($47/ton) to IDR19,940,000/ton ($1413/ton) for BOPP; by IDR380,000/ton ($27/ton) to $21,570,000/ton ($1529/ton) for PPBC; and by IDR680,000/ton ($48/ton) to IDR22,900,000/ton ($1623/ton) for PPRC injection on similar terms.
The reduced local offers come amid subdued sentiment as activity starts to thin going towards the Chinese New Year, which has also put pressure on import prices.
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