Local PP, PE prices move down in Thailand
A trader based in Bangkok reported that local producers reduced their prices to the domestic market by THB1500/ton ($46/ton) for homo-PP and by THB500/ton ($15/ton) for LDPE and LLDPE film. He commented, “Despite these recent reductions, buyers are not purchasing beyond their needs as they still think that prices have room to post further decreases.”
A second trader reported that a domestic producer cut their homo-PP offers by THB1500/ton ($46/ton). He said, “Local prices are currently more expensive when compared to the import market. However, we still prefer to buy local cargoes as they have a faster delivery advantage. We expect to see further decreases over the near term.”
A woven bag manufacturer who also reported receiving a lower raffia offer from a local producer stated that they are expecting to see further softening later in the week. He stated, “We expect to see levels at around THB38500/ton ($1173/ton) soon as we think that the local market is currently overpriced.”
In Thailand, local homo-PP prices are currently reported at THB39500-42000/ton ($1203-1279/ton) for raffia, at THB40000-42000/ton ($1218-1279/ton) for homo-PP film and at THB39500-41500/ton ($1203-1264/ton) for PP injection, all on an FD Thailand, cash basis.
For PE, local prices are currently standing at THB42500-43000/ton ($1385-1401/ton) for LDPE and LLDPE film and at THB43000-43500/ton ($1401-1418/ton) for HDPE film with the same terms.
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