SE Asian players: PP supplies are comfortable despite lack of Mid-East origins
In Thailand, where market activities have gradually slowed down in line with the late king’s cremation ceremony to take place on October 25-29, a converter noted, “We have not received offers from some Saudi producers since September.”
In Indonesia, a converter noted, “We heard that a Saudi producer will have a planned PP maintenance late this year, probably in November. We have not received their new PP offers and we think allocation from the region will be limited by the end of this year in the midst of shutdowns in the Middle East.”
Despite the lack of Middle Eastern cargoes, a trader reported that an Indonesian producer will restart its PP plants by next week after a maintenance shutdown started in September.
In Vietnam, an agent of a Taiwanese producer also reported that supplies from Taiwan are quite comfortable. “We think prices will soften in the days ahead as supplies are normal while demand remains unresponsive,” he added.
For further up-to-date PP production news, please see PP Production News
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Oct PE pricing under discussion amid rising costs, tepid demand in Europe
- Crude at multi-year highs contributes to a perfect storm in polymers
- An enduring challenge: Unprecedented times in PVC markets
- Saudi major opts for firm Oct pricing in both local and export polyolefin markets
- Coal prices hit record highs in China with knock-on effects for PP, PVC markets
- European PP players foresee stability for Oct despite higher propylene
- Vietnam PP prices propelled by bullish China market, improved demand outlook
- Asian PVC markets shaken by fresh round of sharp hikes; prices reach new highs
- Higher costs, rising demand carry import LDPE prices to a 5-month high in China
- SE Asian PP lifted by supportive supply-demand fundamentals