Demand slows further in Oct in Thailand due to late king’s cremation

Polymer players in Thailand reported that market activities have started to slow further down as the country has been readying to pay respect to the late king with a five-day funeral ceremony to take place on October 25-29 while the actual cremation will be held on October 26.

A PE trader commented, “The Thai market is quite slow this month given the prolonged rainy season as well as the cremation ceremony. As buyers expect prices to move lower in the days ahead, they are limiting their purchases. Traders are not willing to buy either. As the year end is nearing, supplies are higher in Thailand.”

A PP, PE trader noted, “Due to the cremation ceremony, demand in October is weaker than in September. We expect the market to improve afterwards.”

A source from a PVC producer opined, “In addition to the cremation ceremony, there are some national holidays in October. Coupled with the long rainy season, these factors pressure the market. Therefore, we keep our offers stable.”