Local PP, PE prices move lower in Philippines
A trader reported that they received one of the local producer’s PP raffia offers PHP1000-2000/ton ($20-40/ton) lower than last week at PHP64,000-65,000/ton ($1147-1165/ton without VAT) on an FD, cash equivalent basis inc VAT.
For PE, the producer’s prices declined by PHP1000/ton ($20/ton) from last week to PHP67,000-68,000/ton ($1200-1218/ton without VAT) for HDPE film while LLDPE c4 film prices were stable at PHP68,000-69,000/ton ($1218-1236/ton without VAT) with the same terms.
Another trader commented, “This week many players are away from the market due to ChinaPlas Fair and therefore, trading is limited. Although we expect market activities to revive after the fair, customers expect local PP and PE prices to witness additional losses.”
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