Higher import offers push up domestic PP prices in Indonesia

13-Jan-10

Domestic PP prices increased at the beginning of this week in Indonesia, with most sources attributing the rise in price to higher import offers, as per Chemorbis. Following the US$30/ton price increase implemented last week, producers announced an additional price hike, bringing the total increase in the New Year to US$60/ton. Taking the most recent increases into account, domestic offers stand at US$1370-1380/ton for homo-PP injection and raffia and at US$1420/ton for PP film, all on an FD Indonesia, cash equivalent basis, with a distributor in the country claiming that they have already concluded some deals at the new price levels. On the converters’ side, buyers are generally holding a wait-and-see approach to the market for the present as they expect to see more competitive offers in February.