Domestic PP, PE prices continue to rise in Indonesia

Domestic PP and PE prices continue to gain ground this week in Indonesia due to extremely limited avails domestically amid higher feedstock prices. As per Chemorbis, domestic PP producers announced an increase of US$30/ton on their offers this week, their fourth increase of the month. Over the course of four price increases, domestic PP offers have risen by US$110/ton vs late December price level. New offers for domestic PP are reported at US$1430/ton for homo-PP injection and raffia and at US$1470/ton for PP film, all on an FD Indonesia, cash basis, with a distributor reporting that they have already concluded some deals at ten dollars below the new producer price level. In the PE market, sellers reported increasing their prices by US$50-70/ton for LLDPE film and by US$10-50/ton for HDPE film this week, with new offers for domestic cargoes currently being reported at US$1520-1550/ton for LLDPE film and at US$1440-1480/ton for HDPE film, all on an FD Indonesia, cash equivalent basis, with some done deals reported at the high end of the range. When compared with the last week of December, domestic offers have gained a cumulative total of US$120-150/ton for LLDPE film and US$90-105/ton for HDPE film.
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