Malaysian producer announces local PE, PP prices for Aug
Distributors in the country report that the new prices are down by MYR160/ton ($42/ton) for LDPE, by MYR100/ton ($26/ton) for HDPE and by MYR340/ton ($89/ton) for LLDPE c4 film.
Homo-PP prices were also lowered by MYR260/ton ($68/ton) and copolymer PP by MYR230/ton ($60/ton).
This price decrease was anticipated by market players following lower initial August offers from other regional producers. There is also downward pressure coming from the slow Chinese market where new capacities are exacerbating an already weakened market due to economic concerns. The Malaysian producer appears to be looking to maintain market share as the new prices are rather competitive in comparison to import offers reported thus far for August, particularly considering their advantage of being promptly available.
Distributors were offered LDPE film at MYR5240/ton FD basis, on cash and 30 days deferred payment terms, bringing offers to $1370-1375/ton cash equivalent basis. LDPE injection was at MYR5390/ton with the same terms, or $1409-1415/ton on cash equivalent basis. Similarly, HDPE film was at MYR5150/ton ($1346-1352/ton) and HDPE bm and injection at MYR5220/ton ($1364-1370/ton). LLDPE c4 film was reported with 30 days deferred payment terms at MYR5260/ton ($1375/ton).
Homo-PP raffia and injection grades were reduced to MYR4740/ton on cash and 30 days deferred payment terms, which is around $1239-1244/ton on cash equivalent basis. Similarly, film grade was reported at MYR4890/ton ($1278-1283/ton). PPBC injection was reported with 30 days deferred payment terms at MYR4970/ton ($1299/ton on cash equivalent basis.)
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