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A major Southeast Asian producer has again revised May shipment offers downward for PP to regional buyers from last week. This is the second time the maker adjust its price list on the back of slower than expected demand condition despite tight availability. The latest offers indicated $20/ton reduction on homo-PP, reaching $1160/ton CIF Southeast Asia/DAP Malaysia, LC AS term while other LDPE and PP copolymers grades remain unchanged.

“This is not very surprise to us since regional demand has been weak recently. However, the producer is attempting to limit the range of price reduction due to tight cargoes available stemming from the recent production disruption. We think buyer acceptance at the latest price level might not be strong,” a market source commented.

May shipment offers for PP from the producer currently stand at $1160/ton for homo-PP, $1260/ton for PP block copolymers, $1300/ton for random copolymer, CIF Southeast Asia/DAP Malaysia, LC AS term.

For LDPE offers, prices are at $1400/ton for film grade, $1460/ton for injection and $1470/ton for lamination with the same payment and shipment term.