Buyers: Jan PP, PE prices move lower in Malaysia
A compounder reported that a local producer cut their prices by MYR550/ton ($157/ton) for PP block copolymer and PP random copolymer to MYR4550/ton ($1302/ton) and MYR4720/ton ($1351/ton), respectively. He stated, “We are planning to wait for a while longer before making fresh purchases as we think that prices have still some room to decrease.”
A converter in the packaging sector received new local prices with decreases at MYR4450/ton ($1268/ton) for homo-PP injection and at MYR4690/ton ($1336/ton) for HDPE blow moulding, both on an FD Malaysia, 30 days deferred payment basis. He commented, “We were expecting to see larger decreases from local producers. Our end product customers are already pressuring us for lower prices due to declining crude oil costs.”
A plastic bag manufacturer also reported that a local producer reduced their prices by MYR480/ton ($137/ton) for HDPE and LDPE and by MYR370/ton ($106/ton) for LLDPE. The producer’s offers are at MYR4620/ton ($1322/ton) for HDPE and LDPE film and at MYR4690/ton ($1342/ton) for LLDPE film, all on an FD Malaysia, cash basis. The buyers said, “Demand for our end products has been slow since November. We are feeling uncertain about the near term outlook and we think that the market may only rebound after the Chinese New Year holidays in February.”
A fourth buyer stated that a domestic producer lowered their prices by MYR430-480/ton ($123-137/ton) for LDPE, MYR510/ton ($146/ton) for HDPE and MYR390/ton ($112/ton) for LLDPE, bringing their new prices to MYR4620/ton ($1311/ton) for LDPE and HDPE film and to MYR4710/ton ($1337/ton) for LLDPE film, all on an FD Malaysia, 60 days deferred payment basis. “We feel that prices are still high. We are waiting to hear further price announcements before deciding on our next move,” the converter commented.
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