Distributors: local PE, PP prices move lower in Thailand
A distributor reported that a local producer has reduced their domestic PP prices by THB500-1500/ton ($15-46/ton), bringing their new offers to THB37500/ton FD Thailand, cash ($1153/ton) for homo-PP raffia and injection and to THB37000/ton ($1137/ton) for homo-PP film. He attributed the producer’s recent reductions to persistently sluggish demand while adding that they purchased some materials at these levels. “We think that the recent upward movement in spot propylene costs will not be able to provide much support to the PP markets as buyers are still waiting in anticipation of seeing further decreases,” he commented.
Another distributor reported that Thai producers cut their local PP and PE prices by THB500/ton ($15/ton), stating, “We heard rumors from the market that local supplies may witness some shortage due to a shutdown.” A third distributor who also confirmed that local PP and PE producers reduced their prices by THB500/ton said, “We are planning to make some forward selling as we don’t want to suffer further losses due to fluctuations in local prices.”
In Thailand, local PE prices currently reported at THB41500-42000/ton ($1276-1291/ton) for LDPE, LLDPE and HDPE film while local PP prices are reported at THB36500-38500/ton ($1122-1184/ton) for homo-PP raffia and injection and at THB37000-39000/ton ($1137-1199/ton) for homo-PP film, all on an FD, cash equivalent basis.
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