An Indonesian PP producer has gained momentum from the depreciation of Rupiah against US Dollar to adjust local offers, SSESSMENTS.COM noted. From the producer’s end, local offers for PP across all grades reported an increase of between IDR1,210,000-1,330,000/ton ($75-82/ton) on a weekly comparison. The adjustment is bigger than the leading Indonesian polyolefins producer’s PP price adjustment, which was only by IDR620,000/ton ($38/ton) higher compared to the same period. The upcoming maintenance at the producer’s PP plant cited as a supporting factor for the significant price increase. Demand-wise, the overall PP market within the country is quiet owing to the intensified spreads of COVID-19. Currently, the producer is still assessing the impact of the outbreak on PP demand, yet the producer still did not hear any positive news so far.
On the production sector, the producer informed SSESSMENTS.COM that their production is still running normally at the moment. The producer stated that the company will likely shut its 300,000 tons/year PP plant within the end of this week. Regarding the restart-up date, it is expected to be back on-stream on April 25, 2020.
