Thai producer applies visible drops on local PE offers
The producer’s significant price cut on PE grades was mainly attributed to weak demand amid growing concerns over the rapid spread of COVID-19 outbreak despite limited supply in the country amid shutdowns.
The producer’s recent PE offers currently stand at THB32000/ton ($1011/ton) for LDPE film and at THB29500/ton ($932/ton) for LLDPE film and HDPE film, all on an FD Thailand, cash equivalent basis.
As for PP, prices were down by THB500/ton ($16/ton) on the week to be reported at THB32500/ton ($1027/ton) for homo-PP film and at THB32000/ton ($1011/ton) for homo-PP raffia and inj. with the same terms.
“We think that both PP and PE prices will have a new round of decreases next week as demand is depressed,” the trader opined.
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