SE Asian major lowers regional PP, PE prices for June

A Southeast Asian producer reported that they announced their June prices to regional markets for PP and PE with decreases from their May prices, citing unresponsive demand and globally bearish sentiment as the main reasons for their price reductions. The producer lowered their prices by $50/ton for LDPE film, $70/ton for homo-PP and $80/ton for HDPE film from May, bringing their June prices to $1250/ton for LDPE film, $1200/ton for HDPE film and to $1130/ton for homo-PP injection and raffia, all on a CIF SEA, cash basis.

“We are feeling relatively free from sales pressure for PP and LDPE as we have some long-standing customers who are still purchasing their normal allocations. For HDPE, however, regional demand is weak and we are looking to divert some of our allocations to other markets such as Europe, Turkey and South America. We hear that some buyers in Vietnam are placing buy ideas for HDPE film at around $1170/ton,” a producer source commented.

Import prices currently stand at $965-1130/ton for homo-PP injection and raffia, at $1150-1230/ton for HDPE film and at $1170-1270/ton for LDPE film, all on a CIF SEA, cash equivalent basis.