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A major Thailand producer surprisingly implemented $60/ton hike on import HDPE cargoes to Indonesia towards the end of the week while PP prices inched $10/ton higher. Buyers are astonished with the latest price list and many are refraining from making purchases for both grades.

“We were informed that discounts are available for serious buyers on HDPE, however we still think that these offers are way above acceptance level. We might wait a little longer before entering deal,” a buyer commented.

The supplier is also encouraging buyers to place bids for PP cargoes, sources said, “And we find it hard to locate a reasonable bid level given the fact that local traders are offering at $1315/ton FD Indonesia, cash term for yarn and injection grade. We might switch to domestic cargoes for now,” another buyer added.

The producer’s price list and changes are shown in the following table: