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SEA producer steps back from October PP, PE prices

by ChemOrbis Editorial Team - content@chemorbis.com
  • 16/10/2014 (17:33)
A source from a Southeast Asian producer reported that they have adjusted their October PP and PE prices downward by around $30-40/ton to the regional markets and China in line with plunging upstream markets. Their offers are now standing at $1660/ton for homo-PP film, at $1640/ton for PP block copolymer, at $1560/ton for HDPE film, at $1580/ton for LDPE film, all on CIF SEA or CFR China, cash basis.

The source stated, “Softening upstream costs are exerting a downward pressure on all polymer prices and we expect that the current downward trend will remain in place over the near term while PP and PE prices may touch new lows. Especially in China, our sales are quite slow and we may divert some of our cargoes to other markets including Latin America in order to conclude better deals.” He added that they are planning to announce their new November prices next week although they are feeling uncertain about the near-term outlook.
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