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Chinese players reported having received fresh PE offers from a major Thailand producer with $10-20/ton increased from last week. The increases are mostly supported by stronger upstream costs, buyers said, however, demand started to taper given that the current levels are beyond market acceptance.

The producer’s price list is shown in the following table:

Distributors are not optimistic about the sales result for this week amid strong resistance from buyer side. “Prices have returned to the previous highs while local market is softening. Buyers would naturally source competitive materials from domestic suppliers,” a source said.

Players are mostly on the wait and see after placing bids at the previous week’s levels while several have expressed the intention to skip buying if the supplier insists on the latest prices.