Local homo-PP prices hit 4 year low in Thailand
Players in the country report that domestic PP prices continued to post decreases at the start of the week. Data from ChemOrbis Price Index showed that price reductions for local PP cargoes are ranging between THB2000-2500/ton ($61-76/ton) when compared to the previous week.
A trader stated that local producers implemented fresh price reductions at the start of the week in the face of weak demand stemming from buyer’s cautious stance due to their bearish expectations. The trader predicted that local markets will soon hit the THB40000/ton ($1218/ton) threshold for both PP and PE.
Locally-held PP cargoes are currently offered at THB41000-42000/ton ($1248-1279/ton) for homo-PP raffia and injection and at THB41500-42500/ton ($1263-1294/ton) for PP film, all on an FD Thailand, cash equivalent basis.
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