Although the Rupiah has slightly rebounded from its eight-month low recorded on 3 February 2025, it remains above the critical IDR 16,000-per-dollar threshold. The producer’s decision to hold prices steady, despite the potential cost impact, underscores the persistent challenges confronting Indonesian sellers
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Notably, Shandong Yulong Petrochemical entered the international market for the first time since commissioning three PP production lines with a combined annual capacity of 1.1 million tons in December 2024.
As previously reported, overseas suppliers, particularly from the Middle East, are prioritising allocations to the Indian market, where demand is stronger and margins are more attractive. Given that the Saudi producer has successfully concluded deals