Restricted avails in domestic market prompts greater PP, PE buying interest in Indonesia

In Indonesia, persistent supply tightness in the country’s local PP and PE markets has pushed converters in the local market to increase pace of their purchases out of fears that tightening supply could force sellers to seek further price hikes over the near term, as per Chemorbis. Also, converters are also looking to build up some buffer stocks in case domestic materials become even harder to locate in the near term. A distributor reported to have sold out stocks of domestic PP and PE this week at prices equal to the new producer price level for both products - at US$1400/ton for homo-PP injection, US$1440/ton for PP film, US$1430/ton for HDPE film and US$1480/ton for LLDPE film, all on an FD Indonesia, cash basis. When compared with the end of December, the producer price level in Indonesia has posted cumulative increases of US$80/ton for homo-PP, US$60-70/ton for LLDPE film and US$40-70/ton for HDPE film.
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