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Earlier this week, a major Southeast Asian producer has announced July PP and LDPE offers to Indonesia with reduction and today, other market in the region also received new offers from the maker with similar range of reduction.

Latest price list shown $40/ton reduction for all LDPE grades and homo-PP, while PP block copolymer drops $30/ton from last month. The producer’s price list stand at $1320/ton for LDPE film, $1380/ton for LDPE injection, $1390/ton for LDPE coating, $1090/ton for homo-PP, $1190/ton for PP block copolymer and $1260/ton for PP random copolymer, all based on CIF Southeast Asia or DAP Malaysia, LC AS term.

Buyers are surprised with the offers claiming that these levels are above market acceptance and other regional producers have already implemented more aggressive price cut. “However, out principal supplier has very limited quantity this month. It is the holiday now and we might have to wait until next week to see if there would be any adjustment,” a distributor commented.