Philippine buyer: Local producer raises local PP, PE prices
According to the converter, the producer’s PE offers are up by PHP1000/ton ($20/ton) to be quoted at PHP71000/ton ($1283/ton without VAT) for LLDPE film, at PHP70000/ton ($1255/ton without VAT) for HDPE film, on an FD Philippines, cash including VAT basis.
The producer also raised their PP offers by PHP2000/ton ($40/ton), bringing their new offers to PHP67000/ton ($1201/ton without VAT) for PP homo raffia with the same terms.
The converter reported, “Although local prices increased since the beginning of February, they are still more competitive than imports. Our customers are now stocking up as they are aware that the local producer will reflect increasing costs to their prices.”
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