PP prices move higher on limited supplies in Indonesia
In the local market, a domestic PP producer made three consecutive upward adjustments on their prices, raising their offers for homo-PP injection and raffia by a cumulative amount of $80-90/ton. Their prices for other homo-PP grades were also up by $40/ton for film and coating, and by $50/ton for BOPP. The producer currently offers homo-PP raffia, injection, coating and BOPP at $1310/ton, and film at $1320-1330/ton, all on an FD Indonesia, cash basis.
Meanwhile, PP prices also witnessed some upward movement in the import market, with a major Southeast Asian producer announcing their March prices with increases of $90/ton for homo-PP and $60/ton for PP copolymer. The producer’s new prices currently stand at $1160/ton for homo-PP injection and raffia and at $1240/ton for PP block copolymer, all on a DAP Malaysia, cash basis, according to a trader. "Our supplier is feeling confident that more buyers are beginning to return to the market," the trader stated.
A woven bag manufacturer in Indonesia stated that they requested material from three separate Middle Eastern suppliers, but was unable to receive a firm quotation. The converted said, "Supply is quite tight in Indonesia and we are waiting to receive new import offers before deciding on our next purchases.”
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