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Local, import PP markets see multi-month highs in Indonesia

by ChemOrbis Editorial Team -
  • 06/09/2017 (09:42)
According to data obtained from ChemOrbis Price Index, import and local homo-PP prices on average have reached their highest levels of the recent months in Indonesia. The ongoing bullishness in the nearby Chinese market and firm propylene prices in Asia continued to reflect onto prices. The market also found support from some regional producer’s September offers, which came with notable increases although demand has shown no signs of improvement yet.

The below graph created by ChemOrbis Price Wizard shows that weekly average import homo-PP prices in Indonesia have been following an uptrend since early July and they are currently standing at their highest levels since the second half of April.

A converter commented, “We are yet to see an improvement in demand. However, we think prices will preserve the current stable to firmer trend in the near term given the firmer PP market in China as well as the impacts of Hurricane Harvey.”

A woven bag manufacturer said, “Although our stocks are sufficient only until mid-October, we are not planning to make purchases as high costs have literally become a burden for us in the midst of unpromising profits.”

Inside Indonesia, a local producer increased its PP offers by six times since August. The producer has been adopting a firm stance on its offers given plans to shut its PP line for maintenance in September.

The second graph created by ChemOrbis Price Wizard also represents that local homo-PP prices in Indonesia have recently reached a more than ten-month high as a result of steady increases in place since early July.

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