Demand is just not present this week for local PE and PP cargoes in Thailand. A distributor commented that a Thai PE producer has increased the price this week by THB1,000/ton ($32/ton) for HDPE Film and LLDPE Film C4 as compared to the offers announced at the end of last week. Whereas compared to offers in early last week, the current offers for both HDPE Film and LLDPE Film C4 are stable at THB31,000/ton ($993/ton). For LDPE grades, the offers remain unchanged from the level in early and late last week. For PP cargoes, offers for PP Homo Raffia cargoes from one of the Thai PP producers are available at THB36,000-36,500/ton ($1,153-1,169/ton), remain stable from last week. Distributor shared to SSESSMENTS.COM that market talks have it that gap between PP Homo Raffia and PP Homo Yarn became wider, even reaching THB2,000/ton ($64/ton) in which usually only around THB500/ton ($16/ton). All offers are on cash, FD Thailand basis and excluding 7% VAT.
Although price movement recorded on PE cargoes, buyers still hesitant to take action as the country is entering the rainy season. Demand for PE and PP remains poor; coupled with the COVID-19 issue which battering market confidence. SSESSMENTS.COM noted that distributors and traders have difficulty in selling the cargoes at the moment, although quantities offered this week is still limited from the producers’ side.
For outlook, the distributor told SSESSMENTS.COM that producers might lower PE and PP prices at the end of this week in order to secure some deals amid slow demand.
Local PE, PP offers on cash, FD Thailand basis (excluding 7% VAT)
Tags: Asia Pacific,English,News,PE,PP,SEA,Thailand
Published on July 8, 2020 3:07 PM (GMT+8)
