Domestic PP prices rise for second time in Feb in Indonesia

Domestic producers have announced their second PP price increase for February this week, raising prices by US$20/ton for all PP products in Indonesia due to persistently limited supply in the local market, as per Chemorbis. Producers had announced initial increases of US$20/ton for homo-PP injection and raffia and US$30/ton for PP film last week, bringing the total increase from the late January offer level to US$40/ton for injection and raffia and US$50/ton for film. The new producer price level stands at US$1470/ton for homo-PP injection and raffia and US$1520/ton for PP film, all on an FD Indonesia, cash basis. Despite tightness in local availability, distributors complain that they are seeing poor demand from end users and that they are having difficulty achieving satisfactory sales even considering their reduced allocations. Some distributors commented that they are offering prompt cargoes to the local market with discounts of $10-20/ton when compared with the producer price level in hopes of speeding up their sales ahead of the holidays.
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