Post-holiday demand for PE, PP improves in Indonesia
An Indonesian converter said, “PE prices are up as post-holiday demand is good and LDPE supplies are limited. However, we are not sure about their sustainability.”
An end product manufacturer in Indonesia also commented, “A local producer increased their PE prices further following holidays. As we find PE prices for Thai origins too high and not competitive at all, we prefer to source from the local market for now. However, we still have enough inventories and we plan to wait and see until we get a clearer idea about the trend. Even though we will replenish some stocks in the near term, it wouldn’t be aggressive.”
Another manufacturer also made similar comments, saying, “PE demand is quite promising and we have started to receive many orders from our customers this week. We run our plant at full rates while we have some stocks in hand. Therefore, we are not worried about replenishing material immediately and are planning to observe the market trend to be able to decide when it is the right time for purchasing.”
As for PP, a producer also reported that after the long holiday, customers are back to the market for stock replenishment as they are running low of material in their warehouses. “We expect prices to maintain their upward momentum in the near term up to September-October, but then witness a correction as PP prices have recently recorded sharp increases,” commented the producer.
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