Philippine buyer: Local producer lifts PE prices
by ChemOrbis Editorial Team - content@chemorbis.com
According to a converter in the Philippines, a domestic producer implemented an increase on their PE offers when compared to two weeks ago due to the depreciation of the peso against the US dollar as well as firming global markets.
The buyer reported that the domestic producer applied weekly increases of PHP2000-3000/ton ($140-210/ton) on their LLDPE and HDPE film offers, bringing their new prices to PHP69000/ton ($1234/ton without VAT).
He commented, “Buyers are not interested in higher offers as they found the current levels to be too high to accept. Many players have already left their desks for holidays and factories are expected to remain shut until January. Traditionally, demand picks up due to replenishment activities after the New Year and Christmas holidays, yet it may be different this year as the Chinese New Year will begin soon after players return to their desks.”
The buyer reported that the domestic producer applied weekly increases of PHP2000-3000/ton ($140-210/ton) on their LLDPE and HDPE film offers, bringing their new prices to PHP69000/ton ($1234/ton without VAT).
He commented, “Buyers are not interested in higher offers as they found the current levels to be too high to accept. Many players have already left their desks for holidays and factories are expected to remain shut until January. Traditionally, demand picks up due to replenishment activities after the New Year and Christmas holidays, yet it may be different this year as the Chinese New Year will begin soon after players return to their desks.”
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