Local PE prices sink to their lowest levels since 2012 in Thailand
Price decreases for domestic PE cargoes are ranging between THB750-2250/ton ($23-68/ton) when compared to the previous week. Locally-held PE cargoes are currently offered at THB43500-44250/ton ($1324-1347/ton) for LDPE film, at THB43500-45000/ton ($1324-1370/ton) for LLDPE film, at THB44250-45000/ton ($1347-1370/ton) for HDPE film and at THB44500-45000/ton ($1355-1370/ton) for HDPE blow moulding and injection, all on an FD Thailand, cash equivalent basis.
A trader commented, “We continue to see decreases in the local PE market during the last week of the year. Most traders are making losses and we hope that the market will improve at the start of 2015.”
A bag manufacturer stated, “We are buying on a weekly basis just to cover our urgent needs as we think that prices have still some room to decrease. We are closely observing the market developments and are not planning to make large scale purchases until we think that prices have hit the bottom level.”
Meanwhile, Asian spot ethylene prices lost $45/ton week over week to be quoted at $940/ton CFR Northeast Asia. According to data from ChemOrbis Price Index, spot ethylene prices on a CFR Northeast Asia basis are currently hovering around their lowest levels since July 2012. Prices have lost around $600/ton since end September.
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