A Thai trader told SSESSMENTS.COM that the company will maintain firm local PP offers as domestic demand expected to improve in the near term. Compared to three weeks ago, offers for local PP Homopolymer grades moved up by THB500/ton ($15/ton) due to the tight supply at the supplier’s end. Buyers submitted bids at THB500/ton ($15/ton) lower than the initial offers between THB27,500-28,000/ton ($854-869/ton) on cash, FD Thailand basis, and excluding 7% VAT. However, at the moment, the trader is unwilling to sell the cargoes at such a level and prefer to maintain firm offers.
Further explained to SSESSMENTS.COM, the trader believes that by next week, buyers will accept such a level as they will be running out of stocks. Additionally, the trader is currently waiting for an official announcement from the government regarding permission to reopen the department stores, which is expected to lift PP demand in the country. As for June shipment, the trader opined that most suppliers will adjust up PP prices considering the higher crude oil prices coupled with the uptrend in China market.
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Local PP offers on cash, FD Thailand basis and excluding 7% VAT in all terms
Tags: Asia Pacific,English,News,PP,SEA,Thailand
Published on May 12, 2020 6:28 PM (GMT+8)
