Players: Philippine producer issues hikes on PP, PE prices
A converter stated that they received new local prices from the producer with increases of around PHP4000-5000/ton ($90-113/ton) when compared to the most recent offer levels they received. He commented, “We don’t understand why they issued these hikes as demand is not supportive. We are not planning to make any fresh purchases for now.” The buyer was offered HDPE blow moulding and homo-PP injection at PHP72000/ton FD, cash including VAT ($1448/ton without VAT).
A trader reported that they received new offers from a domestic producer at PHP72000/ton FD, cash inc VAT ($1448/ton without VAT) for LLDPE, HDPE film and homo-PP raffia and injection and at PHP73000/ton (1468/ton without VAT) for homo-PP film with the same terms. “We think that the producer raised their offers in order to keep up with prices for locally-held import cargoes. Demand is sluggish due to the Easter holidays and many players are not active in the market. Still, local cargoes see better demand than imports thanks to their prompt delivery advantage,” the trader said.
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